Dangote Refinery Denies Petrol Price Increase, Cites Commitment to Market Stability

Premium Times reports that the Dangote Petroleum Refinery and Petrochemicals Limited has firmly denied circulating claims of an increase in its ex-depot price for petrol. The refinery asserts that its price for loading Premium Motor Spirit (PMS) remains stable, directly refuting reports, particularly those on the social media platform X, that suggested a price hike.

This denial comes at a critical time, as global crude oil prices surge due to escalating Middle East tensions. Speculation had suggested the refinery had increased its price from N1,275 to N1,350 per litre. However, Dangote Refinery emphasizes its commitment to cushioning the Nigerian economy from external shocks by maintaining its current pricing structure. This stance is presented as a deliberate effort to support domestic energy market stability and affordability.

The refinery's statement highlights its ongoing efforts to absorb cost pressures and ensure an uninterrupted supply of high-quality petroleum products. It reaffirms its dedication to national objectives of price stability and energy security. Premium Times notes that petrol prices in Nigeria have already risen significantly, from around N870 per litre before the recent geopolitical crisis to N1,370 and above in major cities, making the refinery's stated commitment to stability particularly significant for consumers.

From a Nigerian perspective, as reported by Premium Times, the refinery's clarification is crucial. It addresses public anxiety over potential fuel price increases, which directly impact the cost of living. The refinery's proactive denial and its stated commitment to absorbing costs reflect a conscious effort to manage market expectations and support the national economy during a period of global price volatility. The emphasis on relying solely on official statements underscores the importance of accurate information in navigating such sensitive economic issues.

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Dangote Refinery reaffirmed its dedication to the steady supply of high-quality petroleum products to the Nigerian market, while supporting national objectives of price stability and energy security.