Refinery Cushions Petrol, Diesel Prices – Dangote Official
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In Nigeria, a senior official of the Dangote Group has disclosed that its refinery has been cushioning petrol and diesel prices for local buyers.
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The move comes amid rising global crude prices driven by tensions linked to the US Iran conflict.
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The official said the refinery’s petrol price of about N1,200 per litre is below prevailing market levels, despite crude oil climbing above 100 dollars per barrel.
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The price jump has affected fuel costs across sectors, including diesel and aviation fuel.
While petrol and diesel prices are being moderated, aviation fuel is sold at market rates.
The refinery, which supplies most of the country’s jet fuel, said it cannot absorb costs across all products due to pressure from rising crude prices.
Airlines have raised concerns over sharp increases in Jet A1 prices, warning of possible shutdowns.
Industry players say the surge has made operations difficult, with calls for urgent measures to ease the burden on the aviation sector.
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