Refinery Reverses Price Hike DANGOTE Refinery has reduced the ex-gantry price of Premium Motor Spirit (PMS) by ₦75, bringing it down to ₦1,200 per litre. The adjustment comes just weeks after the refinery raised its price to about ₦1,275 per litre amid volatility in global oil markets. Industry sources confirmed the latest price cut on […]
Fuel Price Surge Sparks Nationwide Call for Relief Petrol Nears ₦1,500 Amid Global Tensions RISING petrol prices, now approaching ₦1,500 per litre, have triggered widespread concern among labour unions, manufacturers, economists, and civil society groups, who are urging the Federal Government to take urgent steps to cushion the impact on Nigerians. The surge, largely driven […]
Geopolitical Crisis Reshapes Fuel Trade THE ongoing global energy disruption has begun to reshape fuel trade patterns across Africa, with Nigeria emerging as a critical supplier following supply shocks linked to tensions in the Middle East. Countries across the continent, particularly in Southern and East Africa, are increasingly turning to the Dangote Petroleum Refinery as […]
Price Reversal Jolts Petroleum Market NIGERIA’S downstream petroleum sector is facing renewed tension following a sharp increase in the depot price of petrol by the Dangote Petroleum Refinery and a controversial policy shift by regulators suspending petrol import licences. The refinery raised its gantry price for Premium Motor Spirit (PMS) to ₦1,175 per litre, reversing […]
Rising Tensions Shake Global Energy Markets ESCALATING tensions in the Middle East are beginning to ripple through Nigeria’s fuel market, with industry operators warning that petrol prices could soar to ₦2,000 per litre if the crisis persists. The warning came from the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), whose National President, Billy […]
Dangote Refinery Raises Petrol, Diesel Depot Prices DANGOTE Petroleum Refinery has raised its ex-depot prices for petrol and diesel, marking the fourth adjustment within two weeks and signalling increasing pressure in Nigeria’s downstream petroleum market. Under the new pricing template communicated to fuel marketers, the gantry price of Premium Motor Spirit (PMS), commonly known as […]
NMDPRA Explains Rising Fuel Prices THE Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has attributed the recent rise in petrol pump prices across Nigeria to market forces operating under the country’s deregulated downstream petroleum sector. According to the authority, price fluctuations are expected within a deregulated market where supply, demand, and global events influence […]
Long Queues at MRS Stations FUEL queues are resurfacing across Lagos as petrol prices climb above ₦1,000 per litre. On Saturday morning, motorists and commercial drivers were spotted forming long lines at MRS filling stations along the Ibadan/Lagos Expressway, where Premium Motor Spirit (PMS) was still being sold at ₦937 per litre. Other stations on […]
NCS Cracks Down on Fuel Smuggling in Cross River IN a major crackdown on petroleum smuggling, the Nigeria Customs Service (NCS) auctioned 14,375 litres of Premium Motor Spirit (PMS) on Wednesday in Calabar. The fuel had been intercepted en route to Cameroon by the agency’s special anti-smuggling taskforce, Operation Whirlwind. Deputy Comptroller Abubakar Aliyu, National […]
Pump Prices Rise in Major Cities PETROL prices have surged across parts of Nigeria, with pump prices hitting ₦960 per litre in Abuja and ₦935 per litre in Lagos, following escalating tensions in the Middle East that have disrupted global oil markets. The increase comes days after Dangote Refinery adjusted its ex-depot price by ₦100, […]