Oil marketers have pledged continued patronage of Dangote Refinery despite fluctuating PMS prices and increased competition in Nigeria’s petroleum market.
Dangote Refinery recently adjusted its Premium Motor Spirit (PMS) price from ₦899.50 to ₦955, raising prices at its affiliated stations to ₦970 per litre. Similarly, the Nigerian National Petroleum Company Limited (NNPCL) reviewed its prices to match, with some independent stations selling between ₦970 and ₦990.
Marketers remain cautious, citing the volatile nature of the market. Clement Isong, Executive Secretary of the Major Oil Marketers Association of Nigeria (MOMAN), emphasized the challenges of price unpredictability, noting, “This market is fragile, and prices fluctuate daily.”
Industry experts have pointed to deregulation as the driver of competition, predicting that only efficient players will survive the ongoing price war. Meanwhile, sources close to Dangote Refinery suggest that global crude prices and other costs contribute to the refinery’s pricing decisions.
Marketers say they are confident in Dangote Refinery’s long-term position, even as competition continues to reshape the energy landscape.
