Marketers fear high-priced petrol ahead of supply
As petrol from the Dangote Petrochemical Refinery hits the local market in two to three weeks, petroleum marketers have expressed the fear that the product’s price may be higher than expected.
They spoke against the backdrop of the 650,000-capacity refinery’s failed attempt to get feedstock locally from the international oil companies.
Dangote Refinery has continued to import crude oil from the United States and other countries at a higher qqqqcost.
This development has reportedly made its diesel and aviation fuel not very attractive to some local marketers due to price reasons.
The marketers, who spoke with newsmen yesterday, raised concerns that the cost of importing crude oil would impact the cost of production, a development that may eventually hike the ex-depot price of the Dangote petrol.
They fear that Dangote’s lack of access to local crude oil may dash Nigerians’ hope of getting cheaper petrol.
Speaking in an interview, the National Vice President of the Independent Petroleum Marketers Association of Nigeria, Hammed Fashola, said the association was afraid that crude imports would jerk up the price of Dangote petrol.
