Dangote Refinery Dismisses Allegation Of High Petrol Price

Dangote Refinery Dismisses Allegation Of High Petrol Price

Dangote Refinery has dismissed the allegation of selling Premium Motor Spirit, PMS, also known as petrol at between N1, 015 and N1, 028/litre, as fake news.

Oil marketers, yesterday, said the price of petrol, produced by the Dangote Petroleum Refinery stood between N1, 015 and N1, 028/litre, adding that it would be reasonable to import the product from the international market as the landing cost stood at N978.01/litre as of October 31, 2024.

Reacting, the Chief Corporate Communications Officer of Dangote Group, Tony Chiejina, dismissed the allegation as ‘fake news’.

According to data released by the Major Energies Marketers Association of Nigeria on Thursday, the landing cost of diesel was N1,069.97/litre, while that of aviation fuel was put at N1, 119.67/litre.

A major marketer that pleaded to be anonymous, said the refinery currently sells to oil marketers making bulk purchases at N1,015/litre and small buyers at N1,028/litre.

He said: “Dangote is selling to bulk buyers at N1, 015/litre, but to marketers who are not buying in bulk, the refinery is selling at N1, 028/litre.”

However, the Publicity Secretary of Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, Dr Joseph Obele, said Dangote petrol might be higher because the refinery was processing imported crude oil.