Price war: Depot owners in trouble as Dangote Refinery resumes bulk sales at N877 per litre

By Udeme Akpan, Energy Editor

The Dangote Petroleum Refinery yesterday resumed afloat operations portion raising the gantry terms of Premium Motor Spirit, PMS, besides known arsenic petrol by 7 per cent to N877 per liter from N820 per litre.

Checks by Vanguard indicated that lipid marketers buying 2 cardinal litres and supra would payment from the comparatively debased price.

The refinery gantry terms remains little than the N890 – N900 per litre depot terms charged by galore depot owners.

According to information released by Petroleumprice.ng, yesterday, depot owners specified arsenic Pinnacle and Rainoil enactment their depot prices astatine N890 and N885 per liter, respectively.

The information besides showed that Optima and Matrix enactment their depot prices astatine N880 and N890 per liter, respectively.

Chief Executive Officer of Petroleumprice.ng, Olatide Jeremiah, “The downstream assemblage continues to witnesser the terms war. With its immense size and capacity, the 650,000 barrels per time refinery continues to find the pace. Depot owners and others person to follow. So, we expect depot prices to trim successful the coming weeks. We besides anticipation that the expected debased prices volition beryllium extended to the filling stations nationwide.”

Checks by Vanguard yesterday showed that galore filling stations sold the merchandise successful excess of N900 per litre.

The President of the Oil and Gas Service Providers Association of Nigeria, OGSPAN, Mazi Obasi, said: “The absorption and unit of Dangote Refinery should beryllium commended for the palmy commencement of operations and their resilience successful overcoming assorted economical and operational challenges posed by saboteurs wrong the lipid and state worth chain.”

Obasi said the constitution and occurrence of the Dangote Refinery correspond a important milestone successful Nigeria’s quest for vigor independency and economical stability. He assured that OGSPAN remains committed to partnering with the refinery successful advocacy and nationalist enlightenment efforts aimed astatine educating Nigerians connected the immense benefits of section refining to the nationalist economy, occupation creation, and overseas speech stability.

The station Price war: Depot owners successful occupation arsenic Dangote Refinery resumes bulk income astatine N877 per litre appeared archetypal connected Vanguard News.