Dangote Petroleum Refinery has continued to shield Nigerian consumers from the impact of rising global fuel prices by maintaining stable domestic petrol prices, according to a report by S&P Global Commodity Insights.

The report said rising international gasoline prices, higher freight costs and tighter global fuel supplies have made petroleum imports into West Africa more expensive. However, Dangote Refinery’s pricing has prevented importers from passing the higher costs on to Nigerian consumers.

S&P noted that importing fuel into Nigeria has become commercially unattractive, with Dangote’s prices remaining below those in regional markets such as Lomé.

Despite the challenging global market, Dangote Refinery has reduced its ex-depot price of petrol by more than ₦200 per litre, diesel by ₦300 per litre, and Jet A1 aviation fuel by ₦520 per litre since the end of May.

Industry analysts said the refinery has played a key role in protecting Nigeria from global fuel price shocks, noting that domestic pump prices would likely have been much higher if the country still depended largely on imported petroleum products. Visit www.jocomms.com for more news.