Updated June 24, 2025 • 1-min read
Posted by Anonymous
Jun 23, 2025
1 answer
Posted by Anonymous - Jun 23, 2025
Okay, I've honestly been following this Dangote refinery petrol price increase thing, and it's pretty wild. Everyone always says, hey, if crude oil prices drop, shouldn't petrol get cheaper? But Dangote's refinery just made pump prices go up, not down! Here's the main thing: Dangote says they're paying more for imported US crude oil, and the naira has been all over the place, like losing value against the dollar nonstop. Even if the global oil price drops, it doesn't help much when your local currency is weak and you still have to pay for imports in dollars!
Plus, running a big refinery like Dangote costs a ton, and they just invested in 4,000 new trucks, so their expenses have gone up, too. They kind of blamed "operational costs" for the price hike. I've also seen people online, like PENGASSAN, saying petrol should be way cheaper, maybe N700-N750 per litre, but filling stations are now selling it for over N900 in some places. It's one of those things where it's not just about oil prices—it's about currency issues and the costs of running the business, you know? It's so frustrating if you're just trying to afford a ride to school or work every day.
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