Crude oil refiners and other players in the downstream sector have stated that the dollar charges on locally refined Premium Motor Spirit, popularly called petrol, coupled with the cost of importing crude, are major reasons for the high cost of the product when compared to imported PMS.
Data obtained from the Major Energies Marketers Association of Nigeria on Tuesday showed that the cost of landing a litre of imported petrol into the country as of December 5, 2024, was N958.89.
The price of petrol produced by the Dangote Petroleum Refinery, according to dealers on Tuesday, was N970/litre.
Oil marketers had also stated earlier that the price of refined petrol from Port Harcourt Refining Company was N1,030/litre.
This shows that the cost of locally refined petrol is higher than the price of imported PMS, a development that industry operators blamed on dollar charges on PMS and crude oil importation costs.
The Crude Oil Refinery Owners Association of Nigeria noted that some of the charges on locally refined products were still in dollars, stressing that this affects the cost of these commodities.
