The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr. Billy Gillis-Harry, has advised Nigerians to prepare for a steady climb in petrol prices, which could reach ₦1,500 per litre as international tensions show no sign of easing.
During an appearance on Channels The Morning Brief on Tuesday to discuss ‘The Effect Of Global War On Fuel Prices’, he noted that while prices are rising, having a consistent supply from the Dangote Petroleum Refinery is a better alternative than facing scarcity.
Dr. Gillis-Harry emphasized that maintaining a steady source of fuel is currently the top priority, stating, “The reality is that if you look at the volatility in the price from what we are seeing today, the Dangote Refinery is the salvation for us, due to the consistent source of product, which is much more important at this time than anything.”
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He further explained that “the availability of product is much more important than pricing,” pointing out that gantry rates have already climbed to ₦1,175 per litre.
Looking ahead, the PETROAN president warned that additional costs will continue to drive up the final price at the pump.
He remarked, “By the time we add the charges, logistics, and others, the price will get higher and higher. So, yes, ₦1500 per litre is not far-fetched.”
Despite the high costs, he urged the public not to be alarmed, arguing that “it is better for us to have the product available, be able to do our business, and get some level of energy security than not having it.”
These projections come as ongoing instability in the Middle East continues to push global energy prices beyond previous expectations.
