Nigerian filling stations have significantly increased their premium motor spirit pump price after Dangote Refinery and petroleum products depot owners adjusted ex-depot prices upward.
DAILY POST gathered that Empire Energy and Ranoil filling stations in Gwarimpa and other parts of Abuja have hiked their petrol pump price.
Accordingly, Empire Energy and Ranoil filling stations increased their pump price to N935 and N970 per litre as of Saturday morning from N905 and N900, respectively, on Friday night.
In an exclusive interview with the spokesman of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike said the latest petrol hike was due to an ex-depot increase by Dangote Refinery and depot owners in Nigeria.
“The supplying depots and Dangote Refinery have increased their ex-depot petrol prices.”
“As of Friday pricing, Dangote Refinery’s ex-depot price is N858 per litre, up from N820. Depot owners like NIPCO (N870), Aiteo (N855), and Ranoil (N855),” he told DAILY POST on Saturday.
He said the ex-depot price hike is due to the exchange rate and the price of crude oil in the global oil market.
DAILY POST reports that Brent and West Texas Intermediate crude futures fell to $69.67 and $67.33 as of Saturday morning, according to oilprice.com.