Dangote Petroleum Refinery Hikes Petrol Price
The Dangote Petroleum Refinery has increased its ex-depot price of Premium Motor Spirit (PMS),
commonly known as petrol, to ₦875 per litre, marking a fresh adjustment in Nigeria’s downstream oil
sector.
The new price represents an increase of ₦101 from the previous rate of ₦774 per litre, according to
officials familiar with the development.
A senior refinery official confirmed the adjustment on Monday, attributing the hike to volatility in global
crude oil prices and rising replacement costs.
Industry reports indicate that the increase follows a surge in international crude oil prices, which
recently climbed above $80 per barrel amid escalating geopolitical tensions in the Middle East.
The adjustment in the gantry (ex-depot) price is expected to have a ripple effect across the fuel supply
chain, with marketers likely to review pump prices at filling stations nationwide.
Analysts note that under Nigeria’s deregulated petroleum market, fuel prices are largely determined by
market forces, including global crude prices, exchange rates, and logistics costs, making such
fluctuations inevitable.
The development has raised concerns over potential increases in transportation costs and the general
cost of living, as petrol remains a key driver of economic activity in the country.
The Dangote refinery, Africa’s largest, plays a central role in Nigeria’s fuel supply landscape, and pricing
changes at the facility often influence broader market trends across the country.
By Oyinkansola Shittu.
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