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Dangote Refinery has increased its ex-depot price of fuel from ₦899.50 to ₦950 per litre.
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Despite the price increase, Dangote Refinery’s partners, including Ardova, Heyden, and MRS Holdings, will sell petrol to Nigerians at a retail price of ₦970 per litre nationwide.
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The refinery has absorbed approximately 50% of the cost increases in the international oil market and will start publishing its ex-depot price.
Dangote Refinery has announced an increase in its ex-depot price of fuel from ₦899.50 to ₦950 per litre.
According to the refinery’s spokesman, Anthony Chiejina, the price adjustment is directly related to the significant increase in global crude oil prices.
Chiejina stated, “While we have made a 5% adjustment to our ex-depot price… it is important to note that this increase is considerably lower than the 15% rise in global crude oil prices.”
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He added that the refinery has maintained the Single-Point Mooring (SPM) ex-vessel price at ₦895 per litre.
READ ALSO: Petrol Pump Price Surges To N1,150 After Dangote Hike
Despite the price increase, Dangote Refinery’s partners, including Ardova, Heyden, and MRS Holdings, will sell petrol to Nigerians at a retail price of ₦970 per litre nationwide.
Chiejina said, “We have absorbed the increased logistics costs to guarantee uniform pricing across the 36 states of the federation and the Federal Capital Territory (FCT).”
Dangote Refinery’s Fuel Price Hike Baffling, Says Shehu Sani
Former Kaduna Central Senator, Shehu Sani, has reacted to the recent hike in fuel price by Dangote Refinery, expressing disappointment and confusion.
According to Sani, Nigerians expected Dangote Refinery to reduce the price of fuel, not increase it.
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