Dangote Petroleum Refinery has increased the price of Premium Motor Spirit (PMS), commonly known as petrol, to N955 per litre for bulk buyers purchasing between 2 million and 4.99 million litres.
In a notice titled “Communication on PMS Price Review,” issued on Friday, the refinery also announced a revised rate of N950 per litre for customers buying 5 million litres or more.
The new rates reflect a 6.17% hike, equivalent to an additional N55.5 per litre, compared to the N899.50 per litre rate offered during the December 2024 holiday period.
According to the refinery, the new prices take effect from 5:30 PM on Friday, impacting all unsold stock balances and pending orders.
The statement partly read, “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.”
The refinery attributed the price increase to rising global oil prices, with Brent crude oil reaching $81.84 per barrel, the highest in 2025. The adjustment is expected to impact the domestic petroleum market significantly.
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