Petrol Price Hike in Abuja: Marketers Blame Dangote Refinery

Petrol prices have seen an increase across Abuja, with independent petroleum marketers pointing fingers at the Dangote Refinery for the latest adjustments.

The Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chief Chinedu Ukadike, stated that marketers have been compelled to implement these price changes due to consistent increases in the gantry price of Premium Motor Spirit (PMS) by the Dangote Refinery.

This situation places a strain on consumers, who now face higher costs for fuel. The reliance on a single major refinery for price benchmarks can lead to significant market fluctuations, impacting the affordability of transportation and goods.

IPMAN's statement suggests a lack of competitive pricing pressure, allowing the Dangote Refinery's pricing decisions to directly influence the retail cost of petrol in the capital city. The association's public attribution of blame highlights their frustration with the current pricing dynamics.

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marketers had been forced to implement these price changes due to repeated increases in the gantry price of Premium Motor Spirit (PMS) by the Dangote Refinery.