.png)
The price of importing Premium Motor Spirit (PMS), which we all know as petrol, has jumped to ₦885 per litre, according to PoliticsNigeria. That’s quite a leap from the ₦797 per litre we saw just last week! This ₦88 increase was highlighted by the Major Energy Marketers Association of Nigeria (MEMAN) in their daily energy bulletin that came out on Wednesday, March 26, 2025.
This rise in landing costs hints that we might soon see pump prices at filling stations climbing over ₦1,000 per litre, compared to the current prices that range from ₦940 to ₦970 per litre.
Contributing to the possible rise in prices is the recent news from Dangote Petroleum Refinery about temporarily stopping the sale of petroleum products in naira. The refinery explained that there’s a mismatch between the money it makes from naira sales and the dollar-based obligations it has for buying crude oil.
Interestingly, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has mentioned that even with the refinery's announcement, its members are still buying fuel from Dangote Refinery using naira.
As the situation unfolds, Nigerians are bracing for the economic impact of these developments on fuel prices and the broader economy.
Post a Comment