Nigerian Depot Owners Increase Petrol Price Over Dangote Refinery Planned Shutdown

Several petroleum products depot owners and marketers in Nigeria have raised their ex-depot petrol prices amid reports of a planned shutdown of the Dangote Refinery’s petrol unit for maintenance and upgrades.

According to Daily Post, a check on Saturday showed that major depot owners are now selling prices around N800 per liter, up from between N740 and N780.

This is the case in Ranoil, Optima, AYM Shafa, and other depots, while Dangote and Aiteo sold N702 and N740 per liter.

The latest ex-depot price hike is linked to the reported planned turnaround maintenance at the Dangote Refinery.

Speaking on the plan, Devakumar Edwin, Vice President of Dangote Industries, explained, as reported by Platts (S&P Global): “In most departments, our production levels have gone beyond 100 percent. We just need to remove constraints to raise overall output.”

Meanwhile, retail fuel prices stood between N739 and N910 per liter across major filling stations in Nigeria as of Saturday afternoon.