Dangote Raises Petrol Price to N955 Per Litre

Dangote Petroleum Refinery has announced an adjustment in its pricing structure for Premium Motor Spirit (PMS), also known as petrol.

In a notice issued on Friday, January 17, the refinery set the new bulk purchase rate at N955 per litre for customers purchasing between 2 million and 4.99 million litres.

Bulk buyers acquiring 5 million litres or more will now pay N950 per litre. This price adjustment represents 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 notice further stated that the new rates will take effect from 5:30pm on Friday, impacting all unsold stock balances and pending orders.

Dangote refinery explained the price revision, citing rising global oil prices as the key reason for the change.

“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 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.