The Nigerian National Petroleum Company (NNPC) Limited has raised the petrol pump price to N915 per litre in Lagos and N945 per litre in Abuja.
This new price indicates an increase of N45 from the previous rate of N870 per litre in Lagos and a N35 rise from the earlier price of N910 in Abuja.
This change follows the refinery’s recent increase, which raised the ex-depot petrol price to N880 per litre just two days earlier.
MRS filling stations, which partner with the Dangote refinery, raised their petrol price to N925 per litre in Lagos, up from N875 per litre.
On June 15, the Dangote refinery launched a nationwide logistics service for distributing petrol and diesel. The refinery announced that it had acquired 4,000 new CNG-powered tankers to boost its fuel distribution efficiency nationwide.
In light of this, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) expressed concerns that the Dangote refinery’s implementation of forward integration could masquerade as a monopoly and may lead to considerable job losses in the downstream sector.
On June 19, the Major Energies Marketers Association of Nigeria (MEMAN) urged clearer information regarding Dangote refinery’s logistics proposal for nationwide distribution of petrol and diesel.
Experts noted that the refinery’s actions could significantly impact the market, potentially offering consumers advantages while presenting obstacles for the downstream industry.
