Petrol Price To Hit N1,050 As Dangote Refinery Raises Gantry Price
Petrol prices across Nigeria may soon rise to around N1,050 per litre following an increase in the gantry price by the Dangote Refinery.
Reports indicate that the refinery has raised its gantry price for Premium Motor Spirit (PMS) to N995 per litre, a move expected to push retail pump prices higher across the country.
Industry stakeholders say the adjustment reflects prevailing market dynamics, including supply costs and distribution factors within the downstream petroleum sector.
With marketers adding transportation and operational costs, the new gantry price is likely to translate to pump prices approaching N1,050 per litre in many parts of Nigeria.
The development comes amid ongoing concerns about fuel affordability, as Nigerians continue to grapple with rising living costs and inflation.
The Dangote Refinery, Africa’s largest oil refinery, has become a major player in Nigeria’s fuel supply chain, and pricing changes from the facility often influence market rates nationwide.
Marketers and consumers are now watching closely to see how the new price adjustment will affect petrol availability and retail prices in the coming weeks.
