Petrol depot prices rise as Dangote Refinery, others adjust rates
By Aboki Forex —
Nigerian motorists face fresh pump price increases after petroleum depots, including Dangote Refinery, raised their Premium Motor Spirit (PMS) rates this week. Some depots recorded hikes of up to N30 per litre, and filling stations are expected to pass the higher costs on to consumers.
Dangote Refinery adjusted its depot price from N1,168 to N1,185 per litre, an increase of N17 per litre. Pinnacle moved to N1,190 per litre, while Liquid Bulk, Masters, Sigmund and T.S.L each rose to N1,215 per litre, according to market data.
Current depot prices
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.
In Calabar: Fynefield: N1,220; Mainland: N1,215; Matrix: N1,220; Soroman: N1,220. In Warri: A.Y.M Shafa: N1,215; Matrix: N1,215; Nepal: N1,215; Rain Oil: N1,195.
What this means for pump prices
Not all depots recorded increases. MRS remains at N1,167 per litre, the lowest on the list, while Rain Oil in Warri is priced at N1,195. These lower rates could allow some filling stations to hold their pump prices steady, at least in the short term.
Filling stations that buy from depots with higher rates are likely to adjust their retail prices. The size of any increase will depend on the supplier and transportation costs for each location.
For consumers, the latest depot adjustments mean pump prices could climb again in the coming days, especially at stations sourcing from the affected depots. Motorists should expect variations in what they pay depending on location and supplier.