The Nigerian National Petroleum Company Limited (NNPCL), on Monday, released the estimated price of Premium Motor Spirit (PMS) sourced from the Dangote Refinery, with the petrol pump price expected to be sold for N950.22 in Lagos and N1,019.22 in Borno State

This is coming a few hours after the nation’s oil company commenced lifting petrol from the 650,000 barrels per day Dangote refinery located in Ibeju-Lekki, Lagos State, with over 100 trucks.

Following the initial increase in pump price from 617 to 855, Nigerians have been lamenting the new hike, clamouring for a drop in the price of PMS. Many expect that with the commencement of the indigenous Dangote refinery, the hike in petrol price will be a thing of the past.

Nigerians’ expectation of a possible drop in petrol price immediately after Dangote, an indigenous refinery, commenced sales of PMS is still miles away from reality. While the country will pay more for Dangote petrol in September 2024, above the earlier current N855 per litre at NNPCL retail outlets, the hope is not entirely dashed.

The PMS, which currently costs N855 per litre, is expected to increase to N950 and above following NNPCL’s release of the new estimated Dangote refinery petrol price.

However, petrol prices from Dangote Refinery may be reviewed in the coming month, as the NNPCL is expected to commence sales of crude oil to the refinery in Naira by October 1, 2024.