The Dangote Refinery has announced an increase in the price of petrol sold to marketers. According to reports, marketers buying between 2 million and 4.99 million litres will now pay N955 per litre, up from the previous price of N899.50.
This change has raised concerns about its impact on fuel costs and the economy. The Dangote Refinery, which began operations in 2024, was expected to stabilize fuel prices and reduce Nigeria’s reliance on imported petroleum products. However, this price adjustment suggests challenges in maintaining affordability amid rising production and market costs.
The increase is likely to affect transportation costs and could lead to higher prices for goods and services across the country. Many Nigerians, already facing economic difficulties, are worried about how this will add to the financial strain.
While the refinery has not officially explained the reasons for the price hike, analysts believe global oil market trends and local production costs may have influenced the decision. Critics have expressed concerns about the refinery's ability to provide affordable fuel as promised, while others argue that such adjustments are necessary for sustaining operations.
The price increase comes at a time when Nigerians are already grappling with high inflation and economic challenges. Stakeholders and citizens alike are waiting for further updates and clarity on the refinery’s pricing strategy.
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