Dangote Refinery has announced a five per cent increase in the ex-depot price of petrol from N899.50 to N950 per litre due to a significant rise in global crude oil prices, which surged from $70 to $82 per barrel.
This adjustment is lower than the 15 per cent increase in crude prices, and the refinery has absorbed about 50 per cent of the cost increases to maintain retail prices at N970 per litre across Nigeria.
Dangote Petroleum Refinery has clarified that the recent adjustment in its ex-depot price of Premium Motor Spirit (Petrol) is directly related to the significant increase in global crude oil prices.
This is as key distribution partners MRS Oil, Heyden, and Ardova have agreed to sell petrol at N970 per litre nationwide.
Group branding and communications officer for the group Anthony Chiejina, who made this known said as crude remains the primary input in the production of PMS, any fluctuation in its international price inevitably impacts the cost of the finished product.
The company said as crude remains the primary input in the production of PMS, any fluctuation in its international price inevitably impacts the cost of the finished product.
