Fuel prices are rising across Nigeria’s retail market as a supply dispute involving Dangote Refinery adds pressure to petrol distribution and pricing.
Key takeaways
- Several filling stations are now charging between N1,310 and N1,320 per litre, up from N1,230–N1,299.
- Retail increases range from N20 to N80 per litre, depending on the operator.
- MRS recorded the largest adjustment at N80 per litre, followed by Ranoil at N45 and Empire Energy at N25.
- Dangote Refinery lifted its gantry price by N65 to N1,265 per litre last weekend.
- The refinery has criticised fuel-import licences issued to marketers and warned that it could redirect products to overseas markets.
Filling stations raise pump prices
Nigerian filling stations have sharply increased their prices for Premium Motor Spirit, commonly known as PMS or petrol. A market check on Monday found that MRS, Ranoil, Empire Energy and other retailers were selling the product at N1,310–N1,320 per litre, compared with earlier prices ranging from N1,230 to N1,299.
The changes represent increases of between N20 and N80 per litre across the stations surveyed. MRS added N80 per litre to its price, while Ranoil raised its charge by N45 and Empire Energy increased its price by N25.
Dangote’s higher wholesale price
The retail adjustments followed a N65-per-litre increase in Dangote Refinery’s gantry price last weekend, taking the refinery’s charge to N1,265 per litre.
Dangote Refinery has previously attributed the continued inflow of imported petrol to import permits granted to marketers by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
More recently, the large-scale refinery warned that it could export its refined products instead and suspend sales to petrol importers and marketers.
