Dangote Discloses Petrol Prices Set Ay MRS, Ardova, And Heyden Nationwide

The Dangote Refinery has assured Nigerians that despite a recent increase in the ex-depot price of petrol, its three major partners will maintain a uniform pump price of ₦970 per litre across the country.....KINDLY READ THE FULL STORY HERE▶

Speaking on Sunday, Anthony Chiejina, the refinery’s spokesperson, explained that the price adjustment was influenced by global market dynamics.

Chiejina said, “We have made a 5% adjustment to our ex-depot price from ₦899.50 to ₦950 per litre. However, this is significantly lower than the 15% rise in global crude oil prices, where Brent Crude has increased from $70 to $82 per barrel in a matter of days, coupled with the $3 per barrel premium for Nigerian crude in the international market.”

Despite these adjustments, the refinery has kept its Single-Point Mooring (SPM) ex-vessel price at ₦895 per litre.

“All our partners, including Ardova, Heyden, and MRS Holdings, will retail petrol at ₦970 per litre nationwide. We have absorbed additional logistics costs to ensure a consistent price across all 36 states and the Federal Capital Territory (FCT),” Chiejina added.

He noted that Dangote Refinery has absorbed approximately 50% of the cost increases driven by global oil market trends.

“If we were to fully pass on the crude oil price increase to the market, the pump price of PMS would range between ₦1,150 and ₦1,200 per litre in certain areas, compared to the current ₦970 per litre,” Chiejina explained.

For transparency and consumer protection, the company also announced plans to begin publishing its ex-depot price, ex-vessel price, and pump price weekly. This measure aims to ensure fair pricing and prevent exploitation.