{"id":353951,"date":"2025-01-28T07:07:35","date_gmt":"2025-01-28T06:07:35","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=353951"},"modified":"2025-01-28T07:07:35","modified_gmt":"2025-01-28T06:07:35","slug":"pms-marketers-stick-with-dangote-amid-deepening-price-war","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2025\/01\/28\/pms-marketers-stick-with-dangote-amid-deepening-price-war\/","title":{"rendered":"PMS: Marketers stick with Dangote amid deepening price war"},"content":{"rendered":"<ul class=\"marker:text-textOff list-disc pl-8\">\n<li><strong><span class=\"\">Oil and gas marketers remain committed to Dangote Refinery despite ongoing price fluctuations in the dynamic petroleum market<\/span><\/strong><\/li>\n<li><strong><span class=\"\">Marketers cautiously navigate price changes, recognizing the potential for further adjustments based on international crude oil trends<\/span><\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>Oil and gas marketers have pledged continued patronage of the Dangote Refinery despite the ongoing price competition in the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/11\/12\/ipman-addresses-fears-of-fuel-scarcity\/\">petroleum market. <\/a><\/p>\n<p>Industry sources suggest that Premium Motor Spirit (PMS) prices might drop further if international crude oil prices decline.<\/p>\n<p>Recently, Dangote Refinery raised the price of PMS from \u20a6899.50 to \u20a6955, increasing pump prices at its affiliated filling stations to between \u20a6935 and \u20a6970.<\/p>\n<p>Similarly, the Nigerian National Petroleum Company Limited (NNPCL) adjusted its price to \u20a6970, with independent filling stations selling PMS between \u20a6970 and \u20a6990.<\/p>\n<p>Over the weekend, the landing cost of imported PMS fell from \u20a6943.75 to \u20a6922.65 per litre. Despite these fluctuations, marketers are cautious about switching suppliers due to the market\u2019s instability.<\/p>\n<p>\u201cThis is a dynamic market. Prices change daily, so marketers must be careful in making decisions,\u201d one marketer explained.<\/p>\n<p>The Executive Secretary of the Major Energy Marketers\u2019 Association of Nigeria (MEMAN), Clement Isong, affirmed that marketers would continue supporting Dangote Refinery.<\/p>\n<p>\u201cThis market is fragile. Prices can rise or fall overnight. Decisions depend on global factors like the recent sanctions against Russia, which caused price spikes. Now, prices are starting to stabilize,\u201d he said.<\/p>\n<p>An industry expert, speaking anonymously, noted that deregulation is driving intense competition, which will ultimately reduce prices.<\/p>\n<p>However, he warned that only efficient companies with robust management will survive. &#8220;Indiscriminate development of tank farms and unviable petrol stations will expose weak business models,\u201d he added.<\/p>\n<p>A source close to Dangote Refinery emphasized that landing costs are just part of the total price. \u201cOther operational costs also contribute to the final price consumers pay,\u201d the source noted.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil and gas marketers remain committed to Dangote Refinery despite ongoing price fluctuations in the dynamic petroleum market Marketers cautiously navigate price changes, recognizing the potential for further adjustments based on international crude oil trends Oil and gas marketers have pledged continued patronage of the Dangote Refinery despite the ongoing price competition in the petroleum [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":106952,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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