Dangote Refinery protects Nigerians from global fuel price shock – S&P

Dangote Petroleum Refinery & Petrochemicals continues to shield the Nigerian marketplace from outer terms shocks, maintaining unchangeable home substance prices wrong a commercially acceptable scope contempt rising planetary gasoline prices, higher freight rates and tightening planetary proviso conditions that are expanding costs for substance importers crossed West Africa, according to the latest marketplace quality from S&P Global Commodity Insights.

According to the latest marketplace quality published by S&P Global Commodity Insights, importers supplying the Nigerian marketplace are becoming progressively acrophobic implicit the crisp emergence successful planetary gasoline prices, with traders attributing the unit to higher planetary merchandise values and rising shipping costs.

Significantly, marketplace participants told S&P that gasoline prices successful Nigeria are efficaciously being “capped by Dangote prices”, limiting the quality of importers to walk connected higher planetary costs to the home market.

One trader noted that portion Ghanaian specification gasoline presently commands higher premiums, Nigerian specification cargoes stay constrained due to the fact that the Dangote Refinery has kept its coastal income prices unchanged contempt mounting planetary terms pressures.

“Lomé values person risen supra Dangote income prices, which has unopen the arbitrage,” a trader was quoted arsenic sayin...