Petrol prices in Abuja remain high as marketers blame reliance on third-party depots instead of direct supply from Dangote Refinery.
Despite crude oil selling at $65.25 per barrel, petrol continues to sell between ₦950 and ₦960 per litre in Abuja. The Independent Petroleum Marketers Association of Nigeria (IPMAN) President, Abubakar Maigandi, told The Nation on Wednesday that the high price is due to marketers sourcing products from third-party depots rather than getting direct allocations from Dangote Refinery.
Maigandi disclosed that Premium Motor Spirit (PMS) sold at ₦877 per litre at the Dangote Refinery gantry on Wednesday, but the cost increases by the time it reaches independent marketers. He added that some marketers still rely on imported fuel, further pushing up retail prices.
PETROAN President, Dr. Billy Harry, attributed the price hike to market instability following the sack of over 800 workers at Dangote Refinery. “The industry is still trying to settle down from the stakeholders’ and Dangote brouhaha,” he said.