Dangote refinery increases petrol price from N899 to N955/litre

Dangote refinery increases petrol price from N899 to N955/litre

 

Dangote Petroleum Refinery has announced an increase in the cost of lifting its petrol from N899 per litre to N955.

This also affirmed the projection of oil marketers and Petroleum and Natural Gas Senior Staff Association of Nigeria that Nigerians should gear up for an imminent hike in the pump price of fuel.

This is coming following the latest rise in the cost of crude oil in the international market.

Dangote refinery in a notice on Friday titled, “Communication on PMS Price Review”, said the new pricing structure of N955 per litre was for customers purchasing between two million and 4.99 million litres.

Bulk buyers of five million litres or more are to pay N950 per litre, according to the notice.

This price adjustment indicates 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 refinery added that the new rates took effect from 5:30pm Friday impacting all unsold stock balances and pending orders.

Dangote refinery informed its customers of the price revision, attributing the change 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.

“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,” it read in part.

The increase is due to the rise in the price of Brent, the global benchmark for crude.

Brent crude rose to $81.84 per barrel—the highest level in 2025.