The Dangote Petroleum Refinery has increased efforts through the use of Compressed Natural Gas (CNG)-powered trucks to distribute Premium Motor Spirit (PMS), also known as petrol at N850 per litre to different parts of the nation.
The deployment of the CNG trucks has enabled the Dangote refinery to sustain supplies as NNPC Limited increased its depot price to N900 per litre from N850 per litre.
Chief Executive officer of Petroleumprice.ng, Olatide Jeremiah, said, “Generally, the depot prices have increased. Market data showed that petrol sold between 870 and 900 per litre at key depots in Lagos and Calabar, reflecting a steady climb over the past week.
“In Lagos, where most private depots rely on imported supply, prices remained elevated even after recent reviews. Aiteo and Pinnacle both sold petrol at 890 and 870 per litre, respectively, while Integrated Oil and Gas priced PMS at 870 per litre.
“At Calabar, Matrix Energy and Northwest Petroleum traded at 890 and 880 per litre, while Sobaz Depot hit 900 per litre —the highest recorded so far this month.
“The hike in depot prices would likely crash once the Dangote Petroleum Refinery completes its rehabilitation because the plant has the capacity to impact the domestic market.”
However, petrol retail prices have increased by 6.8 percent to N955 per litre, from N890 per litre sold last week.
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