THE Dangote Refinery and Petrochemicals (DPRP) has raised its gantry rate for Premium Motor Spirit (PMS) petrol to N1,175 per litre from N995/l.
Alhaji Abubakar Maigandi, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed this to The Nation by phone on Monday. He added that other depots now sell the product at N1,200 per litre.
A source in the industry said, “Dangote Refinery was selling petrol at N1,175/l while Pinnacle was selling it for N1200/l,” stressing, “but Dangote is not loading.”
The increase followed crises in the Middle East that raised crude oil prices to $115 per barrel.
Crude oil is the main component in the PMS pricing template.
As of the time of writing this report, retail outlets in the Federal Capital Territory (FCT) had yet to adjust their pump prices from N1,075 per litre to N1,090 per litre.
Real Madrid have opened disciplinary proceedings against defender Raul Asencio following his conviction for drink-driving,…
The African Democratic Congress (ADC) has inaugurated a National Reconciliation and Peace Committee to address…
What started as online mockery has turned into a N14m lifeline for Madumere Felix Nwachikerendu,…
The Emir of Gumel in Jigawa State, Alhaji Dr. Ahmed Muhammad Sani II, CON, has…
The Director-General of the Department of State Services, Oluwatosin Ajayi, has directed operatives of the…
UN Secretary-General Antonio Guterres has warned that the world is entering a “silent pandemic” zone…