Dangote increases petrol price to N955 per litre

Dangote Petroleum Refinery has announced an upward revision in the pricing structure for Premium Motor Spirit (PMS), popularly known as petrol.

In a notice issued on Friday titled “Communication on PMS Price Review,” the refinery disclosed that the new bulk purchase price is set at N955 per litre for customers buying between 2 million and 4.99 million litres. For bulk buyers acquiring 5 million litres or more, the price is pegged at N950 per litre.

This adjustment represents a 6.17% increase, translating to an additional N55.5 per litre compared to the discounted rate of N899.50 per litre offered during the December 2024 holiday season.

The revised prices are set to take effect from 5:30 pm today (Friday), impacting all unsold stock balances and pending orders.

The refinery attributed the price increase to rising global oil prices.

“Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit,” the notice read.

“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 increase comes amidst a consistent surge in Brent crude oil prices, which reached $81.84 per barrel—the highest level in 2025. This development has further intensified the pressure on domestic petroleum pricing.