Marketers Tell Dangote To Crash Price Of Fuel, Reveal New Price

Petrol marketers have proposed to the management of Dangote refinery to crash the price of fuel and start selling it at N550 per litre.

The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Migandi Garima, confirmed yesterday: “We have been discussing with Dangote Refinery. The discussion, centering on pricing, margins, and other issues, is still ongoing.”

“We have proposed that the lifting price should be N550 per litre in Lagos. The price of the product will differ from one part of Nigeria to another because of distance and cost of delivering petrol to different locations.

“We are currently waiting on Dangote Refinery to conclude and communicate the price per litre, so we can plan to lift the product when it comes on stream.

“We expect that the price of the locally refined petrol would be cheaper than imported petrol, due mainly to local availability of the bulk of its crude oil and removal of transportation cost.”

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