Dangote Refinery quietly raises fuel price triggered by market forces and need to stay afloat
By Jeph Ajobaju, Chief Copy Editor
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Dangote Refinery is yet to comment on the hike that came the same week the Nigerian National Petroleum Company Limited (NNPC) raised price to N955 per litre at its retail outlets.
“We had no choice. The N950 per litre we currently dispense is only slightly above the amount Dangote Refinery now charges us. It is no longer N850 per litre. The price has also gone up in Lagos and other cities” – Abuja MRS filling station manager.
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Fuel marketers who partner Dangote Refinery have quietly raised pump price to N950 per litre in Abuja, Lagos, and other cities, triggered by supply disruptions and stiff competition to stay afloat.
Dangote Refinery is yet to comment on hike that came the same week the Nigerian National Petroleum Company Limited (NNPC) raised price to N955 per litre at its retail outlets.
On Tuesday, MRS filling stations in Abuja – owned by Aliko Dangote’s half-brother, Sayyu Dantata – sold petrol at N851 per litre at its outlets in Kubwa and along the Lugbe Expressway.
On Wednesday, fuel price at the same MRS filling stations surged by N99 to N950 per litre, which now applies at other Dangote retail partners’ such as Ardova and Optima.
A manager at MRS, who preferred not to be named, disclosed that Dangote Refinery wholesale price to marketers has risen in the last two days due to supply shortage.
“We had no choice. The N950 per litre we currently dispense is only slightly above the amount Dangote Refinery now charges us. It is no longer N850 per litre. The price has also gone up in Lagos and other cities,” the source told DAILY POST.
Dangote Refinery previously assured consumers that its fuel distribution scheme would help reduce pump price but recent developments show a reverse
The refinery has halted gantry fuel loading in recent days, prioritising last-mile distribution due to production shortfall, coming weeks after the NNPC renewed its Naira-for-Crude-Deal with the refinery.
Three days ago, the NNPC and other major marketers raised pump price to N955 per litre, up from between N905 and N920 in Abuja and its environs.
The increase was reportedly caused by supply disruptions from Dangote Refinery, which led depot owners – including Ranoil, Matrix, AA Rano, and AYM Shafa – to raise ex-depot prices to between N885 and N897 per litre in Lagos and Warri.
Consumers now buy petrol across retail outlets nationwide for between N950 and N990 per litre, depending on location.
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