The Dangote Petroleum Refinery has increased its ex-depot price of petrol to N850 per litre.
The current price represents a N30 upward review from the previous gantry price of N820 per litre.
An increase in ex-depot price means Nigerians and businesses will pay more to access the commodity.
On Wednesday, TheCable had observed that some Dangote refinery retail partners increased their pump prices to N915 in Lagos.
Abubakar Garima, the national president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the development to TheCable on Friday.
“The new ex-gantry price of petrol at the refinery is N850 per litre,” he said.
Garima also said the refinery has commenced petrol sale to its partners after a one-week hiatus.
Last week, the refinery had asked marketers to suspend all payments for petrol loading at its gantry.
Dangote refinery’s price adjustment comes just days after the Nigerian National Petroleum Company (NNPC) Limited reduced its retail price to N875 per litre in Lagos and N900 in Abuja.
On July 18, the refinery announced the suspension of its strategic partner discounted pricing scheme, which offered price incentives.
The company said the action was due to complaints that some partners were selling their authority to collect (ATC) rights.
The refinery said some partners were reselling their ATC rights to marketers outside the scheme, allowing them to lift products below the prevailing ex-gantry price. (The Cable)
