Nigerian fuel stations have raised the pump price of premium motor spirit following adjustments in ex-depot prices by Dangote Refinery and depot operators.
EBELENAIJA reporters observed that Empire Energy and Ranoil stations located in Gwarimpa and other areas of Abuja have raised their fuel prices.
As of Saturday morning, Empire Energy and Ranoil were selling petrol at N935 and N970 per litre, respectively, up from N905 and N900 on Friday night.
In an exclusive conversation, the spokesperson for the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, explained that the recent increase in petrol prices stems from higher ex-depot pricing by Dangote Refinery and other depot operators in the country.
“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 also increased prices like NIPCO (N870), Aiteo (N855) and Ranoil (N855),” he stated to EBELENAIJA on Saturday.
He attributed the rise in ex-depot prices to fluctuations in the exchange rate and global crude oil prices.
At the same time, Nigerian National Petroleum Company, MRS, Optima, and AP Ardova stations were still selling petrol at N890 and N885 per litre, respectively, across Abuja at the time this report was filed.
EBELENAIJA also notes that Brent and West Texas Intermediate crude futures dropped to $69.67 and $67.33 as of Saturday morning, based on data from oilprice.com.
