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- Depot petrol owners and besides Dangote petroluem refinery person accrued substance prices successful the past 1 week
- The terms alteration comes successful the aftermath of an summation successful planetary crude lipid terms pursuing the anticipation of unneurotic supply
- Prices of Automotive Gas Oil (AGO) and Liquefied Petroleum Gas (LPG) fell successful respective regions, portion aviation substance remained unchangeable
Legit.ng writer Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends
Depot owners person accrued the terms of Premium Motor Spirit (PMS), commonly known arsenic petrol, by arsenic overmuch arsenic N10 per litre crossed respective petroleum corridors.
A week-on-week investigation of depot prices from May 12 to May 16 shows respective adjustments, including from Dangote Petroluem refinery.
Source: Getty Images
However, prices remained unchangeable for Automotive Gas Oil (AGO) and Liquefied Petroleum Gas (LPG) declined successful aggregate regions, with Aviation Turbine Kerosene (ATK).
Depots summation substance prices
Petroleumprice.ng reports that at the Dangote Refinery, PMS roseate to N837 per litre from N827, portion AGO and LPG slipped to N937 and N865 respectively.
ATK remained unchanged astatine N975.
The upward accommodation successful PMS is attributed to expected tighter supply, portion the diminution successful AGO and LPG whitethorn awesome banal rotation or competitory pricing strategies.
In the Dockyard axis, NIPCO somewhat reduced petrol to N840 per litre, portion LPG astatine Ardova dropped importantly by N25 to N925, indicating anemic offtake oregon pre-positioning up of imaginable marketplace recovery.
Coconut depots saw PMS astatine MRS summation to N834 from N827, portion AGO prices astatine Ibeto and Ibachem each declined N10 to N935. Duport raised its ATK terms marginally to N1035.
Source: Getty Images
Across the Satellite axis, PMS was mostly stable, but for a N3 emergence astatine Menj to N840. However, AGO fell sharply by N20 astatine Mao and N13 astatine Chipet. LPG prices dropped by N5 to N10, portion ATK astatine Rain Oil dipped N6 to N1030.
In Delta, Matrix, and Shafa kept PMS prices level astatine N890 and N860, respectively, portion First Fortune slashed its terms by N25. AGO prices were mixed, with Pinnacle Warri posting a N5 summation and Matrix dropping N10. ATK remained steady.
Port Harcourt depots recorded insignificant fluctuations. PMS hovered astir N893–N896, portion AGO astatine Bulk Strategic fell N9 to N977.
Calabar reported contrasting trends. Alkanes surged N23 to N890 per litre, portion different depots including Fynefield and Mainland, recorded PMS declines. AGO held steadfast astatine N995.
Steps to go a distributor of Dangote petrol
Earlier, Legit.ng reported that Dangote released steps for Nigerians looking to go partners with its refinery arsenic petroleum merchandise distributors.
According to the Dangote Group, businesses and individuals indispensable travel a elemental four-step process to go authoritative distributors of its petroleum products crossed Nigeria.
In a statement, the institution said the archetypal measurement is to initiate the process by sending an email to [email protected] to explicit involvement successful distributorship.
Dangote Refinery stated that upon palmy contact, prospective distributors volition proceed to the registration stage, wherever they volition beryllium issued a Dangote Refinery registration PIN.
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Source: Legit.ng
