Dangote Refinery denies ex-depot price increase
By Udeme Akpan
Dangote Petroleum Refinery and Petrochemicals Limited has clarified that its ex-depot price of Premium Motor Spirit (PMS), also known as petrol, remains unchanged, dismissing earlier speculation of an increase.
Reports had suggested that the refinery raised its ex-depot price to ¦ 1,350 per litre from ¦ 1,275 per litre, a 6 per cent hike, amid sustained volatility in the global crude oil market linked to the prolonged US-Iran conflict, which has disrupted supply flows.
A source in the domestic market had earlier indicated that: “The refinery’s pricing template has already been adjusted, and all stakeholders are expected to comply. In the coming days, oil marketers are likely to raise pump prices, meaning consumers will pay more.”
However, in an official statement, the company refuted the claims, stressing that maintaining its current pricing reflects its commitment to stabilising the domestic energy market.
The refinery stated that by sustaining existing prices, it is helping to cushion the broader economy against external shocks, while absorbing cost pressures to moderate inflationary risks and promote energy affordability.
It added that the decision also supports uninterrupted supply and aligns with national objectives of price stability and energy security.
“Dangote Refinery reaffirms its dedication to the steady supply of high-quality petroleum products to the Nigerian market,” the statement said.
Vanguard News
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