MRS, Ardova, Heyden To Sell Petrol ₦970/Litre — Dangote
Despite the recent rise in the ex-depot price, Daggete Refinery has assured Nigerians that three of its partners will continue to sell gasoline for $970 per litre nationwide.  ,
The recent adjustment in the refinery’s ex-depot price, according to Anthony Chiejina, is “directly related to the significant increase in global crude oil prices.”
In a statement on Sunday, Chiejina said, “While we have made a 5% adjustment to our ex-depot price from N899.50 to N950 per litre, it is important to note that this increase is considerably lower than the 15% rise in global crude oil prices, which has seen Brent Crude rise from $70 to $82 in a matter of days, in addition to the premium for Nigerian crude (approximately $3 per barrel) in international markets.
” Furthermore, Dangote Refinery has maintained the Single-Point Mooring (SPM) ex-vessel price at N895 per litre.
“All our partners, including Ardova, Heyden, and MRS Holdings, will offer petrol to Nigerians at a retail price of N970 per litre nationwide. To ensure uniform pricing across the 36 federation-related states and the Federal Capital Territory (FCT), we have absorbed the higher logistics costs.
READ MORE: OPEC’s Impact on the Dangote Refinery’s Petrol Production
According to Chiejina, Dangote Refinery has accounted for roughly 50% of global oil price increases. “If Dangote Refinery were to pass on the entire increase in the price of crude oil to the market, the retail price of PMS would be approximately N1, 150 to N1, 200 per litre in some locations, compared to the current price of N970 per litre”, he said.
Source: Channels TV
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