Dangote Refinery threatens petrol exports as imports hit 43%

Dangote Refinery has increased its petrol gantry price for the second time in under two weeks, raising it to N1,200 per litre from N1,185 per litre. This results in a N15 per litre hike, according to an oil market survey conducted by DAILY POST. Previously, on August 21, the refinery had raised its gantry price by N20, moving it from N1,165 to N1,185 per litre, marking a N35 per litre increase in just over a week.

Notwithstanding the price revision, Dangote Refinery has maintained its complimentary petrol delivery program at ten sites nationwide, including Abuja. Current crude oil rates hover around $86.62 and $80.35 per barrel. Earlier, the Nigerian National Petroleum Company Limited also raised its petrol pump price by N20 to N1,270 per litre in Abuja and surrounding areas. Currently, consumers in Abuja are paying between N1,230 and N1,299 per litre for petrol.