Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS), also known as petrol, to marketers in naira, ending its recent dollar-based sales arrangement.
The refinery announced the development in a statement on Wednesday, July 23, confirming that its gantry price for petrol has been fixed at N1,215 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 company said.
“The gantry price is fixed at N1,215/litre.”
The new price represents a N40 increase from the previous gantry price of N1,175 per litre.
On July 14, the refinery announced that it would sell petroleum products to marketers in dollars, a move that affected loading activities by some independent petroleum marketers.
The development prompted concerns among marketers, with the Independent Petroleum Marketers Association of Nigeria (IPMAN) stating on July 20 that some members had stopped loading petrol from the refinery.
Oyewole Akanni, zonal chairman of IPMAN, Western Zone, said the situation followed the suspension of petrol loading operations at the Dangote refinery’s gantry.
He added that some marketers resorted to buying petrol from private depots, where prices were significantly higher.
“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,” Akanni said.
He explained that private depot owners increased their prices after Dangote refinery halted PMS sales, contributing to supply challenges in some areas.
