Just when Nigerians think say fuel matter go calm small, another gbege don show face. Dangote Refinery don stop the dollar payment system wey e introduce last week and return to collecting naira for petrol sales, but e still increase the price by ₦140 per litre.
The development don raise fresh fear say pump price for filling stations fit soon climb again, especially as many Nigerians never recover from the last round of fuel price hikes.
According to information wey reach marketers on Wednesday, Dangote don raise the ex-depot price of petrol from ₦1,075 per litre to ₦1,215 per litre with immediate effect.
That means anybody wey dey buy directly from the refinery now go pay extra ₦140 for every litre.The new price also affect coastal loading as the cost per metric tonne jump from about ₦1.44 million to over ₦1.60 million.
Last week, Dangote shock the petroleum sector when e suddenly stop petrol loading and begin sell fuel in dollars.
That decision come after the company complain say crude oil wey dem dey get under Federal Government naira-for-crude programme no dey enough again.
Because of that move, marketers begin rush private depots to source fuel.
As demand increase and available fuel reduce, depot owners quickly increase their prices.
Within few days, petrol wey marketers dey buy for around ₦1,075 rise reach almost ₦1,275 per litre.
Last week, Dangote shock the petroleum sector when e suddenly stop petrol loading and begin sell fuel in dollars.
That decision come after the company complain say crude oil wey dem dey get under Federal Government naira-for-crude programme no dey enough again.
Because of that move, marketers begin rush private depots to source fuel.
As demand increase and available fuel reduce, depot owners quickly increase their prices.
Within few days, petrol wey marketers dey buy for around ₦1,075 rise reach almost ₦1,275 per litre.
Last week, Dangote shock the petroleum sector when e suddenly stop petrol loading and begin sell fuel in dollars.
That decision come after the company complain say crude oil wey dem dey get under Federal Government naira-for-crude programme no dey enough again.
Because of that move, marketers begin rush private depots to source fuel.
As demand increase and available fuel reduce, depot owners quickly increase their prices.
Within few days, petrol wey marketers dey buy for around ₦1,075 rise reach almost ₦1,275 per litre
Many stakeholders warn say if Dangote continue to collect dollars, marketers for need over $40 million every day just to buy petrol.
That kind arrangement fit put serious pressure on Nigeria foreign exchange market and make fuel supply harder.
Even before Dangote announce the latest increase, fuel price for Lagos and many other cities don already dey hover around ₦1,300 per litre.
Experts now fear say the new ex-depot price fit push pump prices even higher unless crude oil prices drop for the international market.
The fear come as crude oil don rise close to $94 per barrel because of fresh tension wey dey brew for the Middle East.
Although Dangote don return to naira transactions, discussions between the refinery and Federal Government over the future of the naira-for-crude deal never finish.
Market operators say the return to naira go help ease the fuel distribution problems wey show face during the one-week suspension.
But many Nigerians no too send that one because wetin concern them pass na whether fuel go still increase again for filling stations.
For now, motorists, transporters and business owners dey hold their breath as another possible fuel price hike dey knock for the door.
