With the festive period over, there are indications that the petroleum pump price would most likely return to an upward trajectory nationwide.
The development followed a notice of upward review in the price of Premium Motor Spirit ,PMS, by the Dangote Refinery.
The notice which is coming amid rumoured nationwide pump price increase- which the Independent Petroleum Markers Association of Nigeria, IPMAN, dismissed as false did not give reason for the new rate.
However, according to a copy of an email sent to customers by the refinery, the new price which is effective today, 5:30 pm, will impact marketers lifting volumes of PMS, with new prices reflecting significant increases compared to previous rates.
Based on volume, marketers, who were buying from the refinery at quantities ranging from 2million to 4.99 million litres will now pay N955 per litre as against N899.50.
For those who are going for five million litres and above, the price has increased from N895 to N950 per litre.
The email reads: “Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit (PMS), as detailed in the table below.
“Please note that all stock balances yet to be lifted as at the above stated time, are to be repriced at the new reviewed prices.”
The organisation assured its customers that communication would follow regarding revised volumes based on the new pricing.
