Nigerian motorists are facing another spike at the pump after Dangote Petroleum Refinery ended its naira-denominated sales, switching to a dollar-based pricing model that has pushed domestic petrol prices up by roughly ₦110 per litre.
The 650,000-barrels-per-day refinery has fixed its ex-depot price for Premium Motor Spirit at $0.779 per litre, with diesel now benchmarked at $1.087 per litre and aviation fuel at $0.942 per litre. Coastal PMS supplies will sell for $1,044.62 per metric tonne.
At the official exchange rate of roughly ₦1,380.50/$1, the petrol benchmark translates to about ₦1,075.61 per litre at the ex-depot level, though this figure will move with the naira rather than stay fixed.
The new template took effect Monday, July 13, and does not apply to Liquefied Petroleum Gas, which remains under the previous arrangement.
Administrator and Writer
