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Tag: petrol price

featured Oil and Gas

Dangote denies import duty influenced 5.6% petrol price cut

The Dangote Petroleum Refinery has officially debunked reports suggesting that recent reductions in petrol pump prices were due to the Federal Government’s purported suspension of the 15 per cent import duty on petrol and diesel. The company categorically described the claims circulating in the media as false, misleading, and inconsistent with actual market realities. The […]

Dangote Refinery loses N32.5bn after petrol price cut
Oil and Gas

Dangote Refinery raises petrol price to ₦877 as operations fully resume

The Dangote Petroleum Refinery resumed full operations on Thursday, simultaneously raising the gantry price of Premium Motor Spirit, commonly known as petrol, by seven per cent, from ₦820 per litre to ₦877 per litre. According to Vanguard, oil marketers who purchase large volumes of two million litres and above would benefit from this relatively low […]

Dangote Refinery loses N32.5bn after petrol price cut
Oil and Gas

Petrol still ₦865/L despite Dangote’s free delivery

Despite receiving petrol from the Dangote Refinery at ₦820 per litre without incurring logistics costs, its marketing partners have yet to reduce pump prices at their filling stations. Findings on Sunday showed that major partners such as Heyden, AP, MRS, and others continued to sell petrol at ₦865 per litre, according to The Punch. The […]

Dangote fuel will be sold in naira not dollars - IPMAN
Oil and Gas

Dangote sells petrol N65 cheaper in Togo than Nigeria – Marketers

Some fuel importers in the country have alleged that the Dangote refinery sells a litre of petrol to international traders at N65 cheaper than the amount it gives the product to marketers in Nigeria. The Depot and Petroleum Product Marketers Association of Nigeria and the Petroleum Products Retail Outlet Owners Association of Nigeria confirmed this […]

News

Petrol prices hit N900/ litre amid falling crude prices

Filling stations have increased petrol prices to N900 per litre and above, despite a recent drop in crude oil prices since Sunday. Some retail outlets operated by the Nigerian National Petroleum Company Limited raised petrol prices to N900 per litre in Lagos and Ogun states, even as crude oil prices fell from nearly $69 to […]

News

Petrol price falls to N925 per litre at private depots

The loading cost of Premium Motor Spirit at private depots dropped to N925 per litre on Monday, reflecting a N27 decrease from the N952 offered by the highest-selling depot last Friday. Marketers attributed the reduction to Dangote Petroleum Refinery’s decision to lower its ex-depot price of PMS from N950 to N890 per litre, effective Saturday. […]

featured

Depots increase petrol price to N950/litre

The cost of loading Premium Motor Spirit and other refined petroleum products at depots increased on Monday. Marketers raised petrol and diesel prices by N43, or 4.74%, due to the rising prices of crude oil. On Sunday, the price of Brent crude, the global benchmark, reached $79.76 per barrel. This situation suggests that filling stations […]

petrol pump
News

Petrol price stays at N1,025 despite Dangote Refinery cut

Despite the recent reduction in the ex-pump price of Premium Motor Spirit to N899.50 per litre by Dangote Petroleum Refinery, petrol prices at most stations in Lagos and Ogun have not been adjusted. Many stations are still selling at the previous minimum of N1,025, while major oil marketers maintain prices around N1,070, and independent marketers […]

featured

Petrol landing cost drops from N1,130 to N981/litre

The Major Energies Marketers Association of Nigeria has reported a decrease in the landing cost of Premium Motor Spirit to N981 per litre, down from approximately N1,130 in previous weeks. This decline, noted as of September 25, 2024, is attributed to a recent drop in global crude oil prices, according to The Punch. Crude oil […]

featured

Address rising cost of petrol – Marketers urge FG

The Federal Government has been urged by the Nigerian Association of Liquefied Petroleum Gas Marketers to develop ways to guarantee gas price stability and make it accessible to ordinary Nigerians. The Punch reported that the request was made by the national president of NALPGAM, Abideen Olatunbosun, on Tuesday in Ibadan, Oyo State, at the association’s 36th […]

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