Dangote Refinery Resumes Naira Petrol Sales at N1,215 a Litre After 13% Price Increase
Updated
Updated · Business Insider Africa · Jul 22
Dangote Refinery Resumes Naira Petrol Sales at N1,215 a Litre After 13% Price Increase
3 articles · Updated · Business Insider Africa · Jul 22
Summary
N1,215 per litre is Dangote Refinery’s new ex-depot petrol price after it scrapped dollar-denominated PMS sales and resumed naira pricing for gantry loading.
The reversal follows about a week of downstream market disruption, when independent marketers were pushed to private depots after Dangote’s dollar-pricing switch created uncertainty and higher costs.
The new naira price is N140 above the previous N1,075 per litre, a 13.02% increase, even as the refinery said the move offers some relief to marketers and consumers.
Dangote had also invalidated earlier naira invoices during the switch, while diesel was priced at $1.087 per litre, aviation fuel at $0.942, and coastal petrol at $1,044.62 per metric tonne.