Nigeria, July 14 -- Under the new pricing structure, petrol will sell at $0.779 per liter at the depot, while diesel is priced at $1.087 per liter and aviation fuel at $0.942 per liter.

The refinery also announced that all previously issued naira invoices for petrol transactions are no longer valid.

The News Chronicle reports that the change follows the refinery's decision to align product sales with the currency used to purchase a growing share of its crude oil supplies.

Industry sources say the imbalance between buying crude in dollars and selling refined products in naira exposed the company to foreign-exchange risk, prompting the transition.

Liquefied Petroleum Gas transactions will, however, continue under the existing payment a...