BREAKING: Dangote Refinery Raises Petrol Price To N955/Litre
BREAKING: Dangote Refinery Raises Petrol Price To N955/Litre
Dangote Petroleum Refinery has announced an upward review of its Premium Motor Spirit (PMS) prices, commonly referred to as petrol, in response to escalating global crude oil prices.
The refinery announced the new pricing structure in a statement released on Friday, setting the new bulk purchase rate at N955 per litre for customers purchasing between 2 million and 4.99 million litres.
According to the statement, bulk buyers acquiring 5 million litres or more will now pay N950 per litre.
This price adjustment reflects a 6.17% increase, or N55.5 per litre, compared to the discounted rate of N899.50 per litre offered during December 2024’s holiday period.
The statement added that the new rates are set to take effect from 5:30 PM today, impacting all unsold stock balances and pending orders.
In a notice titled “Communication on PMS Price Review”, the refinery informed its customers of the price revision, attributing the change to rising global oil prices.
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Brent crude oil surged to $81.84 per barrel—the highest level in 2025—further straining domestic petroleum pricing.
The price hike is expected to ripple across the petroleum industry, influencing private depot operators, major marketers, and independent marketers.
Industry expert Olatide Jeremiah predicted that Dangote Refinery’s pricing adjustments would likely lead to increased petrol pump prices nationwide.
The Minister of State for Petroleum Resources, Heineken Lokpobiri, previously highlighted that the deregulation of Nigeria’s downstream sector allows market forces to determine fuel prices, with global crude oil price fluctuations playing a key role.
