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Chairman of the Dangote Group: Aliko Dangote has said that Premium Motor Spirit popularly referred to as petrol from his refinery would hit the market in the third week of July. While this is cause for celebration, marketers across the country have expressed concern about the influence this could have on the market.
They, unlike most of the general public, believe that Dangote’s Petrol would be more expensive than people currently hope.
Dangote’s refined petrol is set for distribution and sale before the end of the month, a development that has been highly anticipated since the commissioning of the Dangote refinery back in May 2023.
Given that this is the first time a private enterprise would be selling petrol to Nigerians, it is generally believed that the Dangote product would influence the market to begin offering competitive prices. However, according to a report by the Punch newspaper, this has become unlikely.
Marketers are worried that the Dangote petrol price may be higher than people hope. This is because the Dangote Refinery continues to buy crude oil from the United States and other nations at a greater cost, the same factor that made the Dangote diesel and aviation fuel expensive.
A series of interviews conducted by the Punch newspaper with marketers brought this revelation to light. They believe that the imported crude oil would increase the cost of production, perhaps raising the ex-depot price of the Dangote PMS. – Business Insider Africa.
Online Reporter