Petroleum marketers have halted new price releases for petrol and diesel as they await a likely hike from the Dangote Petroleum Refinery and Petrochemicals, driven by rising global crude prices.
Most depots in Lagos, Port Harcourt, and Calabar have suspended operations to avoid losses, while supply has tightened due to reduced fuel loading at the refinery.
Traders are holding back sales and monitoring developments, as Dangote’s next pricing decision is expected to shape market direction and pump prices nationwide.
