Dangote Petroleum Refinery has announced an increase in its petrol price.
This was disclosed in a statement obtained by newsmen this Friday. The refinery said its refined products will now be N955 per litre at the loading site.
It noted that marketers buying between 2 million – 4.99 million litres will now buy at N955 per litre while 5 million litres & above will buy at N950 per litre.
It said this adjustment applies to all stock balances yet to be lifted by the stated time as the new price will take effect from from 5:30 PM, today.
The price increase is expected to have widespread effects on the downstream petroleum sector, particularly private depots and retail markets.
The statement partly read: “Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit. Please note that all stock balances yet to be lifted as at the above-stated time are to be repriced at the new reviewed prices. We shall communicate with customers on their revised volumes based on the reviewed prices, in due course.”