Nigerians now buy fuel between N1, 350 and N1, 480 per litre, investigations yesterday by Saturday Telegraph revealed. Dangote Refinery and Petrochemicals had increased its ex-depot price of fuel by N75 per litre.
The increase is from the previous N1, 200 per litre to currently N1, 275 per litre. This was confirmed from price data obtained from Petroleumprice.ng and confirmation from a Dangote refinery official who requested not to be named. The increment took effect on Wednesday.
Petroleumprice.ng data confirmed the refinery increased its fuel loading price from N1, 200 per litre to N1, 275 per litre, while coastal supply prices were hiked to N1, 215 per litre.
It was also learnt that the refinery suspended its Proforma Invoice entry process at about 4:00 pm on Tuesday, which led to an immediate stoppage of both fuel and Automotive Gas Oil sales.
Also, the Nigerian National Petroleum Company Limited (NNPC Ltd) adjusted the price at its retail outlets. Investigations showed that in Lagos and neighbouring states, fuel pump prices range between N1, 310 and N1, 365.
In Lagos specifically, fuel pump prices range from N1, 310 to N1, 350. In Abuja, outlets owned by NNPC Ltd and other marketers changed their fuel pump price to between N1,364 and N1370 per litre from N1,295.
It was gathered that in some states in South-South and SouthEast, fuel pump price has increased to N1, 410 while in some Northern states, fuel pump price has hit N1, 490.
The increase in the ex-depot price was rationalised on the rising global oil prices as a result of the Middle East crisis.
