Fuel
Dangote Refinery increases petrol price
Dangote Refinery and Petrochemicals Limited is increasing the price of Premium Motor Spirit (PMS), commonly known as petrol.
A statement on Friday, said the refinery cited increase in global crude oil prices, explaining that the new bulk purchase rate for customers buying between 2 million and 4.99 million litres is now N955 per litre.
The statement said further that bulk buyers purchasing 5 million litres or more will pay N950 per litre.
According to the statement, the adjustment represents a 6.17% increase, equivalent to N55.5 per litre, compared to the discounted rate of N899.50 per litre offered during December 2024’s holiday period.
The refinery said the new pricing structure will take effect at 5:30 PM today, impacting all unsold stock and pending orders.
In a notice titled “Communication on PMS Price Review”, the refinery attributed the price hike to escalating global oil prices.