Petrol Prices Go Up As Depots, Dangote Release New Rates
- Several petroleum depots across Nigeria have adjusted their PMS prices, with some recording increases of up to N30 per litre
- Dangote Refinery raised its depot price from N1,168 to N1,185 per litre, while Pinnacle, Liquid Bulk and others also moved rates upward
- Filling stations may pass the higher acquisition costs to consumers, with pump prices expected to vary by location and supplier
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Nigerian motorists could soon pay more at the pump after petroleum depots, including the Dangote Refinery, announced fresh increases in their Premium Motor Spirit (PMS) prices.
Market data released this week shows that depot prices for petrol have shifted across multiple locations in Nigeria, with some recording rises of as much as N30 per litre.
The changes are now putting pressure on filling station operators, who are likely to review their retail prices to cover higher acquisition costs.
Source: Getty Images
Dangote and Other Depots Raise PMS Rates
Dangote Refinery adjusted its PMS price upward from N1,168 to N1,185 per litre, an increase of N17 per litre. Several other major depots also revised their rates.
Petroluemprice.ng data showed that Pinnacle moved to N1,190 per litre, while Liquid Bulk, Masters, Sigmund and T.S.L each rose to N1,215 per litre.
The full list of current depot prices is as follows:
- - African Terminal: N1,198
- - Dangote: N1,185
- - Integrated: N1,198
- - MRS: N1,167
- - NIPCO: N1,200
- - Pinnacle: N1,190
- - Liquid Bulk: N1,215
- - Masters: N1,215
- - Matrix: N1,220
- - Sigmund: N1,215
- - T.S.L: N1,215
- - Fynefield (Calabar): N1,220
- - Mainland (Calabar): N1,215
- - Matrix (Calabar): N1,220
- - Soroman (Calabar): N1,220
- - A.Y.M Shafa (Warri): N1,215
- - Matrix (Warri): N1,215
- - Nepal (Warri): N1,215
- - Rain Oil (Warri): N1,195
Source: Getty Images
What This Means for Pump Prices
Filling stations that source petrol from depots that have raised their rates are expected to pass on the additional cost to consumers, though the scale of any increase will depend on where a station sources its supply and the transportation expenses involved.
Not all depots recorded increases.
MRS remains at N1,167 per litre, the lowest on the current list, while Rain Oil in Warri is priced at N1,195.
These lower-end rates could allow some stations to hold their pump prices steady, at least in the short term.
Overall, the latest depot adjustments point to upward pressure on retail petrol prices, and motorists across the country should expect some variation in what they pay depending on their location and the supplier their nearest station relies on.
NNPC’s new petrol price drops below other filling station rates
Earlier, Legit.ng reported that Motorists at certain NNPC Retail outlets are paying noticeably less for petrol than customers at competing filling stations, as pump prices continue to edge lower following a drop in depot costs across multiple cities.
The NNPC outlet along Awolowo Road in Lagos is currently selling petrol at N1,205 per litre, well below the N1,230 to N1,250 range that most other filling stations are charging.
The state-owned company's outlet at Ushafa Bridge in Abuja sells at N1,250 per litre, reflecting price differences even within NNPC's own retail network.
Source: Legit.ng
