Petrol crisis is expected to deepen as the landing price of imported premium motor spirit was up from N797 to N885 per litre.
In its daily energy report published on Wednesday, the Major Energy Marketers Association of Nigeria revealed the increase in the landing cost of fuel.
The landing cost of fuel last week was N797 per litre, which is a rise of N88.
It is implied that the cost of imported gasoline at Nigerian gas stations might rise from N940 to N970 per litre to about N1,000.
The ex-depot price of fuel from Dangote Refinery was N815 per litre, while the current landing cost is N797. To do this, Dangote Petrol is offered for sale at MRS filling stations in Lagos and Abuja for N860 and N880 per litre, respectively.
Meanwhile, Dangote Refinery’s decision last week Wednesday to halt petroleum product sales in Naira may impact the company’s fresh price template.
Going by the development in the country’s downstream sector, the prices of Dangote Petrol and import fuel are expected to go up in the coming days.
On Tuesday, the Petroleum Products Retail Outlets Owners Association of Nigeria warned Nigerians against panic buying amid petrol price uncertainty.
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PETROAN urged the Nigerian government to continue its Naira-for-Crude deal with Dangote Refinery and at the same time ensure fair pricing competition in the country’s downstream sector.
“PETROAN has also noted reports circulating in the media that the temporary suspension of sales in naira by Dangote Refinery is the reason for the panic buying.
“We wish to reassure the public that this is not a justification for panic buying,” it said.
PETROAN further kicked against the sale of petroleum products in dollars in the Nigerian local market.
