Petrol marketers have suspended fresh purchases of Premium Motor Spirit (PMS) as ex-depot prices at private depots in Lagos climbed to N1,220 per litre, following the suspension of fuel loading at the Dangote Petroleum Refinery.
The development has heightened uncertainty in the downstream market, with many filling stations delaying new orders amid concerns over whether pump prices will rise further or decline once the refinery resumes sales.
Oyewole Akanni, western zonal chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), said the refinery halted PMS loading about four days ago without prior notice, forcing marketers to source products from private depots at significantly higher prices.
“The non-availability of fuel at some filling stations and the closure of others are due to fluctuations in the price of lifting fuel from depots,” Akanni told the News Agency of Nigeria (NAN).
“Since Dangote Refinery stopped selling PMS about four days ago, private depot owners have increased their prices. Many filling stations that have exhausted their stock are waiting to see whether prices will come down when Dangote Refinery resumes sales or increase further. Only a few marketers are buying products for now because of the uncertainty.”
