Petrol price in Nigeria
Petrol Hits N900/Litre as OPEC+ Eyes Output Boost
Nigerians may soon be paying ₦900 per litre for petrol as global and domestic market dynamics tighten further. This surge is fuelled by a fresh decision by the Organisation of Petroleum Exporting Countries and its allies (OPEC+) to increase oil production by 547,000 barrels per day beginning in September — a strategic move to reclaim […]
Fuel Ban Fears Spark Dangote, Marketers Clash
The looming possibility of a fuel import ban in Nigeria has reignited tensions between the Dangote Petroleum Refinery and key petroleum marketers, sparking fears that petrol prices could skyrocket to N1,500 per litre if importation is halted. This warning came from the Independent Petroleum Marketers Association of Nigeria (IPMAN), which urged President Bola Tinubu to […]
Dangote Slashes Petrol Price to N825/Litre Amid Importer Pressure
In a bold market-shifting move, the Dangote Petroleum Refinery has quietly slashed its ex-depot price of Premium Motor Spirit (PMS) to N825 per litre, intensifying competition with fuel importers and reshaping the dynamics of Nigeria’s deregulated downstream petroleum sector. This price adjustment, though unofficially acknowledged, marks a N10 drop from the previously pegged N835 per […]
Petrol Marketers Justify N899 Per Litre Price, Blame Rising Market Costs
In the wake of widespread public concern and industry backlash, leading petroleum marketing firm, SGR, has justified its decision to peg the pump price of Premium Motor Spirit (PMS) at N899 per litre. The company insists the price hike reflects prevailing market conditions following the full deregulation of Nigeria’s downstream oil sector. SGR’s defense comes […]
IPMAN Raises Alarm as SGR Undercuts Petrol Price to N899/Litre
In a bold market move that has reignited pricing wars in Nigeria’s deregulated petroleum sector, SGR, an independent oil marketer, has reduced the pump price of premium motor spirit (PMS) to N899 per litre in Ogun State — the lowest in the country. The development has triggered mixed reactions from stakeholders, with the Independent Petroleum […]