As global crude oil prices surge following Middle East geopolitical tensions, the Dangote Petroleum Refinery has stepped in to shield the Nigerian public. A senior official recently confirmed that the refinery is effectively subsidizing petrol and diesel prices to keep them affordable for consumers.
With Brent crude prices climbing above $100 per barrel, the economic pressure on fuel production has spiked. While the refinery has been forced to raise its ex-depot petrol price to N1,200 per litre to manage costs, the official noted that this figure remains below true market rates. By “optimizing” these prices, the company is absorbing a significant portion of the burden that would otherwise fall on the consumer. However, the refinery emphasized that aviation fuel remains sold at market rates, distinguishing its efforts to protect daily energy needs.
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