A litre of premium motor spirit (PMS) popularly called petrol has hit N977 at the Dangote Refinery, major supplier of the product to the Nigerian National Petroleum Company Limited (NNPCL), Platforms Africa reports.
Findings exclusively conducted by the reputable media group showed that petrol price from Dangote Refinery has led to pump price hike by the NNPCL as full deregulation of the product takes immediate effect.
It will be recalled that the the NNPCL earlier quit its middleman deal with Dangote Refinery, a move that made marketers, including NNPCL, to buy directly from Dangote at the cost reflective price.
With the new price by Dangote Refinery, the NNPC Ltd has adjusted the price of Premium Motor Spirit (PMS), also known as petrol, based on the ex-depot price it bought from the Dangote Refinery.
Reports trickling in indicate that the National Oil Company bought a litre of PMS from the Dangote Refinery at N977.
Checks by Platforms Africa also revealed that NNPC Retail Stations in Lagos are currently selling the product at N988, while those in Abuja are selling at N1,030.
Recall that since the recent exit of NNPC Ltd as the middleman in the Dangote Refinery PMS sale, the nation’s marketers are now free to buy their products from the refinery on a willing-buyer willing-seller basis.
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