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Numerous petroleum product depot owners and marketers in Nigeria have raised their ex-depot petrol prices due to the rumored upcoming shutdown of the Dangote Refinery's petrol unit for maintenance and upgrades.
A recent investigation by DAILY POST on Saturday revealed that leading depot owners are now selling petrol at approximately N800 per liter, an increase from the previous range of N740 to N780. This trend is observed in depots such as Ranoil, Optima, AYM Shafa, and others, while Dangote and Aiteo are offering prices of N702 and N740 per liter, respectively.
The recent increase in ex-depot prices is associated with the anticipated turnaround maintenance at the Dangote Refinery.
Commenting on the situation, Devakumar Edwin, Vice President of Dangote Industries, stated, as reported by Platts (S&P Global): “In most departments, our production levels have exceeded 100 percent. We simply need to eliminate constraints to enhance overall output.”
As of Saturday afternoon, retail fuel prices ranged from N739 to N910 per liter at major filling stations across Nigeria.
Frequently Asked Questions
What has caused the increase in ex-depot petrol prices in Nigeria?
The increase in ex-depot petrol prices is attributed to the anticipated shutdown of the Dangote Refinery's petrol unit for maintenance and upgrades.
What are the current retail fuel prices in Nigeria?
As of Saturday afternoon, retail fuel prices in Nigeria range from N739 to N910 per liter at major filling stations.
Who is responsible for the operations of the Dangote Refinery?
The Dangote Refinery is operated by Dangote Industries, and the Vice President, Devakumar Edwin, oversees its production levels and maintenance plans.
Eze Chidiebere Paul
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