Dangote Raises Petrol Price By N40, Resumes Naira Sales
Dangote Petroleum Refinery has increased its gantry price for Premium Motor Spirit (PMS) by N40 per litre and resumed the sale of petrol in naira, ending its brief return to dollar transactions.
The 700,000-barrel-per-day refinery announced on Wednesday that marketers can once again purchase petrol in the local currency, with the new gantry price fixed at N1,215 per litre, up from N1,175 per litre before sales were suspended on July 14.
In a statement, the refinery said:
“Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) in naira, providing a measure of relief to marketers and consumers. The gantry price is fixed at N1,215 per litre.”
The latest adjustment represents a N40 increase over the previous price and comes just days after the refinery temporarily switched to dollar sales for petroleum products.
Dangote’s earlier decision to sell fuel in dollars created uncertainty in Nigeria’s downstream petroleum sector, prompting depot owners and marketers to raise petrol prices at least twice within the past week.
With the refinery returning to naira sales, marketers are expected to resume purchases in the local currency.
However, the higher gantry price could continue to influence pump prices across the country.
Retail petrol currently sells for between N1,270 and N1,350 per litre in Abuja and surrounding areas.
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