Petroleum Retailers President Warns Fuel Prices Could Surpass N1,000 Per Litre Amid Deal Negotiations

Petroleum Retailers President Warns Fuel Prices Could Surpass N1,000 Per Litre Amid Deal Negotiations

Billy Gillis-Harry, the national president of the Petroleum Retailers Outlets Owners Association of Nigeria (PETROAN), has cautioned that petrol prices in Nigeria could soon exceed N1,000 per litre.

 This projection follows ongoing discussions between Dangote Refinery and the Nigerian Government regarding the Naira-for-crude deal.

The recent fuel price hike, which saw petrol prices rise from N860 to N880 per litre to between N930 and N960 at stations affiliated with Dangote Refinery and MRS, has sparked concern among Nigerians. Gillis-Harry explained that the price surge is primarily due to the deregulation of the downstream sector, compounded by economic and environmental factors.