Independent petroleum marketers in Nigeria are hoping that the Dangote Petroleum Refinery will sell its Premium Motor Spirit, at N600 or N650/litre when it is finally hits the market.
Dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria said they believe that the Dangote refinery would crash the price of petrol as it did with diesel.
IPMAN National Vice President, Hammed Fashola, who stated this to newsmen in an interview on Monday, said the $20bn refinery would bring down the cost of fuel if it gets the needed support, especially as it has to do with crude supply.
He said the Nigerian National Petroleum Company Limited, which is the sole importer of PMS has been selling to marketers at N570/litre, but most IPMAN members buy from private depot owners at N700 and above.00
Speaking about diesel price, Fashola recalled that Dangote refinery crashed the price of diesel, saying when the refinery started producing, diesel was around N1,600 and it went down to N1,000.
The IPMAN boss pointed that the association has had business discussions with some officials of the refinery on a possible partnership, adding that the marketers are waiting for Dangote.