Petrol prices have increased across Abuja following a series of price adjustments by Dangote Petroleum Refinery.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) said the refinery raised its petrol gantry price from ₦1,165 per litre to ₦1,185, before increasing it again to ₦1,200 per litre, a total increase of ₦35 within five days. The latest rate took effect on August 26.
IPMAN spokesperson, Chinedu Ukadike, said independent marketers were forced to adjust their pump prices because they could not sell below the cost of replacing their products.
Checks in Abuja showed that NNPC Retail stations increased petrol prices from ₦1,250 to ₦1,270 per litre, while TotalEnergies and Bovas adjusted their prices to about ₦1,275 per litre.
Ukadike said petrol prices are also influenced by crude oil prices, exchange rates and other developments affecting the global oil market.
He, however, expressed optimism that Dangote Refinery’s free fuel delivery initiative could help reduce transportation costs and eventually ease pump prices. The scheme has recently been expanded to Kano, Imo, Anambra and Nasarawa states, in addition to Abuja and other locations already covered.
