According to Dangote refinery, the adjustment was necessitated by rising global crude oil prices.
Lagos, Nigeria – Dangote Petroleum Refinery has announced an upward adjustment in the price of Premium Motor Spirit (PMS), commonly known as petrol.
The revised pricing structure sets the new bulk purchase rate at N955 per litre for customers buying between 2 million and 4.99 million litres. For bulk buyers purchasing 5 million litres or more, the price is slightly lower at N950 per litre.
The refinery revealed the price hike in a statement titled, “Communication on PMS Price Review,” issued on Friday. The notice indicated that the new rates represent a 6.17% increase, or N55.5 per litre, compared to the discounted rate of N899.50 per litre that was offered during the December 2024 holiday period.
The new pricing is effective from 5:30 PM today (Friday) and will apply to all unsold stock balances and pending orders.
According to Dangote refinery, the adjustment was necessitated by rising global crude oil prices. The notice read in part:
“Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit. Please note that all stock balances yet to be lifted as at the above-stated time are to be repriced at the new reviewed prices. We shall communicate with customers on their revised volumes based on the reviewed prices, in due course.”
Industry sources attribute the increase to the continuous rise in global crude oil prices, with Brent crude, the global benchmark, surging to $81.84 per barrel—the highest level recorded so far in 2025.
This development is expected to impact domestic fuel prices, putting additional pressure on businesses and consumers already grappling with high energy costs.
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