As e be now, Dangote Refinery don raise price of their fuel again. Di reason na because di cost of crude oil for international market don rise well well. According to source, di increase for crude price dey put pressure on di refinery to adjust price so dem fit continue production.
Before dis time, di refinery don stop selling for Naira because dem no fit get enough local crude di way di government Naira-for-crude deal suppose work. So dem start to sell for dollar. Dat one cause wahala for di downstream sector. But now, dem don resume Naira loading, wey go help make things stable.
While di suspension dey happen, independent marketers dey rely on private depots. For those depots, di wholesale price jump to ₦1,350 per litre. Retail filling stations for places like Lagos, Port Harcourt, Warri, and Calabar don adjust pump price to between ₦1,300 and ₦1,400 per litre.
Di increase dey come as shock to many Nigerians wey don dey suffer from high cost of living. But according to Vanguard, di adjustment na due to global crude price rise wey no be anybody fault.
Recall say Dangote Refinery don earlier announce say dem go temporarily sell fuel for dollar because di government Naira-for-crude deal no dey work well. Dem no dey get enough local crude to run di refinery. Dis move make many marketers vex, but now dem don reverse am. Di Naira loading don start again, wey go help reduce delay for distribution.
Di high cost of crude for international market na di main reason why di refinery increase price. Di global crude price don rise sharply, and dat one affect di cost of producing fuel. So di refinery don pass di extra cost to off-takers wey dey buy fuel for wholesale.
Independent marketers wey no get direct contract with Dangote don face serious problem. Dem don dey buy fuel from private depots wey charge up to ₦1,350 per litre. For retail level, pump price don climb to around ₦1,300 to ₦1,400 per litre for many cities.
