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Categories: News

JUST IN: NNPC Unveils Another Petrol Price Breakdown for Public Guidance

The Nigerian National Petroleum Company Limited (NNPC) has released an updated breakdown of the estimated petrol price from its recent purchase from the Dangote Refinery. In its statement on Monday, NNPC confirmed paying for the September 2024 petrol offtake in US dollars, with Naira transactions set to start on October 1, 2024.

The NNPC noted that the price is based on current international gasoline prices and foreign exchange rates, in line with the Petroleum Industry Act (PIA) 2021. It also reassured the public that any discounts from the Dangote Refinery would be passed on fully to consumers.

While the estimated price across the country remains the same, certain fees were altered between two statements. The initial breakdown included a Nigerian Midstream and Downstream Petroleum Regulatory Authority fee of ₦8.99, which was reduced to ₦4.495 in the revised statement.

Additionally, inspection and margin fees were removed, and the distribution fee increased from ₦15 to ₦42.45. The updated statement also introduced a Midstream and Gas Infrastructure Fund fee of ₦4.495.

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