Fuel marketers across Nigeria have adjusted their pump prices following a hike in the ex-depot price of petrol by Dangote Refinery, which increased the rate from N825 to N880 per litre on Friday—a rise of N55.
This latest development triggered immediate responses from key stakeholders in the downstream sector, including members of the Major Energy Marketers Association of Nigeria (MEMAN), the Independent Petroleum Marketers Association of Nigeria (IPMAN), the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), as well as NNPC Retail outlets. Many filling stations swiftly recalibrated their dispensing meters to reflect the new pricing structure.
Prior to the adjustment, NNPC filling stations were selling petrol at N870 per litre. However, by Saturday morning, prices at these outlets had increased to N910 per litre. Similar price increases were observed at other retail stations operated by Dangote’s marketing partners, including MRS, Ardova, and Heyden.
Despite the hike, data from the oil trading platform petroleumprice.ng indicated that Dangote Refinery remained the cheapest among major suppliers. The platform’s latest listings showed that Aiteo sold petrol at N893 per litre, Bovas at N910, and others such as Ever, Rainoil, and WOSBAB at N920 per litre.
The price review comes amid persistent concerns over fuel affordability and supply chain sustainability, as Nigeria’s downstream sector continues to grapple with the implications of deregulation and global oil market dynamics.
Further updates are expected as market reactions evolve.
