Imported Petrol Now N45/Litre More Expensive Than Dangote Fuel—Marketers May Turn Away from Imports

Imported Petrol Now N45/Litre More Expensive Than Dangote Fuel—Marketers May Turn Away from Imports

By CAVIMAGES Media 

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Marketers may turn away from imported petrol in favour of locally refined products, as the cost of imported Premium Motor Spirit (PMS) rises to over N45 per litre above the price of petrol from the Dangote Petroleum Refinery.


The latest energy bulletin of the Major Energy Marketers Association of Nigeria showed that while Dangote Refinery's gantry price stood at N1,265 per litre, the spot import parity price was N1,310.64 per litre under the ASPM benchmark, and N1,309.63 under another benchmark.


The figures indicate that imported petrol was N45.64 per litre more expensive than the locally produced product under the ASPM benchmark and N44.63 higher under the NSPC-NOJ benchmark.


The development provides a fresh dimension to the debate over petrol pricing in Nigeria, coming shortly after Dangote Refinery increased its gantry price from N1,165 to N1,265 per litre last week.


Do you think Nigeria should stop importing petrol entirely and rely on local refineries? Would this bring down pump prices? Share your opinion!


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