The lingering battle between the Dangote Petroleum Refinery and petroleum marketers over the importation and pricing of Premium Motor Spirit (PMS), popularly known as petrol, has taken a fresh turn, with the refinery considering restrictions on supplies to major marketers that continue to import the product. The proposed measure, which could t...
•Dangote and IPMAN logo The Independent Petroleum Marketers Association of Nigeria (IPMAN) says its members have temporarily suspended the loading of Premium Motor Spirit (PMS), also known as petrol, from the Dangote Refinery following the refinery’s halt in petrol loading operations. The development was disclosed by the Western Zone Chairman ...
•Fuel pump Petroleum marketers may require about $1.84 billion every month to purchase petrol, diesel and aviation fuel from Dangote Petroleum Refinery following the company’s decision to price refined petroleum products in dollars, a development analysts warned could increase pressure on Nigeria’s foreign exchange market, test liquidity posit...
•Tinubu and Dangote Refinery The federal government is currently in a closed-door meeting with management of the Dangote Refinery and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), as it pushes for a fair reduction in the price of Premium Motor Spirit (PMS) or petrol nationwide. Our correspondent reported that t...
•Petrol The federal government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority has warned oil marketers against profiteering and arbitrary increases in the pump prices of petroleum products. It insisted that prices must be cost-reflective in line with the provisions of the Petroleum Industry Act 2021, reports The P...
Despite the reduction in the gantry price of Dangote Petroleum Refinery to N1,200 per litre from N1,275 per litre, oil marketers have continued to sell Premium Motor Spirit, PMS, also known as petrol, at N1,330 per litre and above in Lagos and its environs. Motorists had expected that with the N75 per litre reduction by […]
•Dangote fuel tankers Oil marketers have advised Nigerians to brace up for a continued rise in the price of Premium Motor Spirit (PMS) or petrol to about ₦1500 per litre as the US-Israeli and Iran showed no sign of abating. National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), President, Dr. [&hel...
•Fuel queue Long queues are beginning to build up at MRS filling stations where Premium Motor Spirit (PMS) or petrol is sold below ₦1,000 per litre, as consumers hurry in search of cheaper products. Market survey as of this morning revealed that private car owners and commercial bus drivers are starting to form long lines […]
Despite intense competition in the downstream sector, many oil marketers have resisted the pressure to reduce the retail prices of Premium Motor Spirit, PMS, also known as petrol below the Dangote Petroleum Refinery price of N739 per litre. The Dangote Refinery had slashed petrol pump prices from about N900 to N739 last December, thus putting ...
•Dangote Refinery The fuel supply arrangement between the Dangote Petroleum Refinery and 20 major petroleum marketers, under which the parties agreed to offtake 600 million litres of petrol monthly, has collapsed over pricing disagreements. It was also gathered that the disagreement sparked the surge in petrol importation witnessed in the mont...
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