Dangote refinery resumes petrol sales in naira, fixes price at ₦1,215/litre

Dangote Petroleum Refinery has resumed the sale of premium motor spirit (PMS), commonly known as petrol, in naira.

The company disclosed the development in a statement issued on Wednesday.

The refinery had earlier announced on July 14 that marketers would begin purchasing petroleum products in US dollars.

With the return to naira transactions, the refinery has set its ex-gantry petrol price at ₦1,215 per litre.

“Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) in naira, providing a measure of relief to marketers and consumers,” the refinery said.

“The Gantry price is fixed at ₦1,215/ litre.”

The revised price is N40 higher than the previous rate of ₦1,175 per litre.

On July 20, the Independent Petroleum Marketers Association of Nigeria (IPMAN) announced that its members had temporarily halted petrol loading at the Dangote refinery.

Oyewole Akanni, IPMAN’s western zonal chairman, said the disruption followed the refinery’s decision to suspend petrol loading at its gantry.

He added that the situation forced marketers to source products from private depots at significantly higher prices.

“The non-availability of fuel at some filling stations and the closure of others are due to fluctuations in the price of lifting fuel from depots,” he said.

Akanni also said private depot operators increased their petrol prices after the refinery suspended PMS sales.