Several petroleum products depot owners and marketers in Nigeria have increased their ex-depot petrol price over the alleged planned shutdown of Dangote Refinery’s petrol unit for maintenance and upgrades.
According to Daily post on Saturday showed that major depot owners are now selling prices around N800 per liter, up from between N740 and N780. This is the case in Ranoil, Optima, AYM Shafa, and other depots, while Dangote and Aiteo sold N702 and N740 per liter.
The price adjustments are linked to the refinery’s scheduled turnaround maintenance aimed at enhancing production capacity.
READ ALSO: Why We ‘Kicked Against’ Dangote’s Petrol Price Reductions — PETROAN
Speaking on the plan, Devakumar Edwin, Vice President of Dangote Industries, explained, as reported by Platts (S&P Global): “In most departments, our production levels have gone beyond 100 percent. We just need to remove constraints to raise overall output.”
The increase in ex-depot prices has also impacted retail fuel costs, which stood between N739 and N910 per liter at major filling stations across Nigeria as of Saturday afternoon.
The development has raised concerns among consumers and industry watchers over potential fuel shortages and further price hikes in the coming weeks.