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Petrol consumers in Nigeria could face fresh price pressure after international crude oil prices surged above $107 per barrel, raising concerns about higher fuel production and replacement costs in the country’s deregulated downstream petroleum market. Brent crude, the global benchmark, jumped sharply on Thursday, settling at about $107.63 per barrel after gaining more than…
The Federal Government has urged key players in Nigeria’s downstream petroleum sector to ensure that recent reductions in the ex-depot price of petrol are reflected at filling stations across the country, as consumers continue to grapple with high fuel costs. The position was made known during a meeting involving officials of the Federal Government, representatives…
Read More “FG Insists on Immediate Pump Price Cuts as It Meets Dangote Refinery, Fuel Marketers” »
Nigeria’s downstream petroleum sector received a significant boost on Tuesday as the Dangote Petroleum Refinery announced a reduction in its ex-gantry price of Premium Motor Spirit (PMS), popularly known as petrol, by ₦75 per litre. The new gantry price now stands at ₦1,175 per litre, down from the previous ₦1,250 per litre. According to information…
Read More “Dangote Refinery Slashes Petrol Gantry Price by N75 to N1,175 per Litre” »
Dangote Petroleum Refinery has announced that it will stop selling petrol in naira beginning Sunday, September 28, 2025, after running out of crude oil allocations priced in the local currency. In a memo to customers, the refinery explained that it had already sold petroleum products beyond the volume covered by its naira-crude quota and could…
Read More “Dangote Refinery Suspends Petrol Sales in Naira as Crude Allocation Runs Out” »