Petrol prices surge as Dangote refinery’s dollar sales impact market
Fuel prices are rising sharply across Nigeria, with petrol now selling for as much as N1,230 per litre at some stations. The increase follows the Dangote Petroleum Refinery’s move to sell petrol to marketers in dollars, adding pressure to an already volatile market. Industry leaders like Billy Gillis-Harry and Hammed Fashola have voiced concerns about the impact of these changes on stability and affordability. Motorists and transport operators are feeling the strain, as pump prices continue to climb in major cities.
What we know
- The Dangote Petroleum Refinery’s decision to sell petrol in dollars has contributed to higher prices nationwide.
- Depot prices remain high, with petrol selling between N1,185 and N1,245 per litre at major depots.
- In cities like Abuja, Kaduna, Enugu, Port Harcourt, Ondo, Ilorin, Benin, and Sokoto, pump prices range from N1,100 to N1,230 per litre.
- Some marketers report delays in petrol loading at the Dangote refinery, though the company denies any stoppage.
- Transport operators say the high fuel costs are forcing them to raise fares, impacting daily earnings and business viability.
