Petroleum marketers have raised concerns over the rising cost of Premium Motor Spirit, with petrol now selling for between ₦1,250 and ₦1,300 per litre in some parts of the country. The development followed the latest price increase by the Dangote Petroleum Refinery.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said the frequent price changes are making it increasingly difficult for marketers to plan and operate their businesses.

Dangote Refinery on Wednesday raised its gantry price of petrol by ₦15, from ₦1,185 to ₦1,200 per litre, effective August 26. Reacting to the development, Ukadike said the latest increase is coming despite a decline in international crude oil prices. He noted that the latest price adjustments had made it difficult for petroleum marketers to properly structure their businesses.

— NAIRAMETRICS