Despite fall in crude price, petrol hits N1,212 per litre
***Depot price hits N1,735/Litre in Port Harcourt l12 depots increase prices — Report ***Dangote Refinery determines market pace —Experts By Udeme Akpan, Ediri Ejor & Jackson-Kalio Tokoni Despite drop in price of crude in the global oil market, operators in Nigeria’s downstream sector have increased the prices of Premium Motor Spirit, PMS, also known as petrol, by an average of N1,212 per litre from N1,158 per litre, an increase of 4.
The refinery noted that while it remained fully committed to supporting Nigeria’s energy security and ensuring uninterrupted fuel availability across the country, the volume of imported PMS entering the market has created uncertainty in domestic demand planning and inventory management.” However, the domestic market recorded some changes when Dangote Refinery raised petrol price by ₦15/litre amid crude oil decline.
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