Dangote Petroleum Refinery has increased the price of Premium Motor Spirit (PMS), commonly known as petrol, citing rising global crude oil prices.
In a statement released on Friday, the refinery announced that the new bulk purchase rate for customers buying between 2 million and 4.99 million litres is now N955 per litre.
Bulk buyers purchasing 5 million litres or more will pay N950 per litre.
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 new pricing structure will take effect at 5:30 PM today, impacting all unsold stock and pending orders, according to the statement.
In a notice titled “Communication on PMS Price Review”, the refinery attributed the price hike to escalating global oil prices.
The company says the increase is in response to the consistent surge in the price of Brent, the global benchmark for crude.
Brent crude oil surged to $81.84 per barrel—the highest level in 2025 — further straining domestic petroleum pricing.
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