Due to the purported planned shutdown of Dangote Refinery’s petrol unit for maintenance and upgrades, a number of Nigerian petroleum product depot owners and marketers have raised their ex-depot gas prices.
Major depot owners are now selling for about N800 per liter, up from between N740 and N780, according to a check done on Saturday. In contrast, Dangote and Aiteo sold N702 and N740 per liter, respectively, at Ranoil, Optima, AYM Shafa, and other depots.
The most recent increase in ex-depot prices is related to the Dangote Refinery’s reportedly scheduled turnaround work.
According to Platts (S&P Global), Devakumar Edwin, Vice President of Dangote Industries, described the plan as follows: “In most departments, our production levels have gone beyond 100 percent.” All we have to do to increase total productivity is to eliminate limitations.
As of Saturday afternoon, retail fuel rates at Nigeria’s main gas stations ranged from N739 to N910 per liter.
