- The increment followed the significant upward review of ex-depot prices by Dangote Refinery and petroleum products depot owners
The pump Price of premium motor spirit, popularly called petrol, at filling stations in the country has been considerably raised, according to reports.
The increment followed the significant upward review of ex-depot prices by Dangote Refinery and petroleum products depot owners.
Empire Energy and Ranoil filling stations in Gwarimpa and other parts of Abuja have reportedly hiked their petrol pump price.
According to DAILY POST, Empire Energy and Ranoil filling stations increased their pump price to N935 and N970 per litre as of Saturday morning from N905 and N900, respectively, on Friday night.
The Independent Petroleum Marketers Association of Nigeria confirmed the price increase on Saturday.
The spokesman of the association, Chinedu Ukadike, in an interview with newsmen, said the latest petrol hike was due to an ex-depot increase by Dangote Refinery and depot owners in Nigeria.
“The supplying depots and Dangote Refinery have increased their ex-depot petrol prices.”
“As of Friday pricing, Dangote Refinery’s ex-depot price is N858 per litre, up from N820. Depot owners like NIPCO (N870), Aiteo (N855), and Ranoil (N855),” he told DAILY POST on Saturday.
He said the ex-depot price hike is due to the exchange rate and the price of crude oil in the global oil market.
Brent and West Texas Intermediate crude futures fell to $69.67 and $67.33 as of Saturday morning, according to oilprice.com.
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