Dangote Petroleum Refinery has raised the ex-depot price of its petrol, also known as Premium Motor Spirit (PMS).
In a customer email sent on Friday, the refinery announced that its refined products would now cost N955 per liter at the loading gantry.
This price hike follows a surge in global crude oil prices, with Brent, the international benchmark, recently reaching $81 per barrel.
Oil marketers have warned that the rise in crude prices is impacting local production, signaling a likely increase in pump prices.
Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the price increase.
“Yes, we received an email from Dangote notifying us of the price increase from N899 to N955,” he stated.
According to the email, marketers purchasing between 2 million and 4.99 million liters will pay N955 per liter, while those buying 5 million liters or more will be charged N950 per liter.
The refinery notified customers that the price adjustment for Premium Motor Spirit (PMS) would take effect from 5:30 PM that day, as shown in the table provided.
It also clarified that all stock balances yet to be lifted by the stated time would be repriced according to the new rates.
Dangote Refinery pledged to update customers on their revised volumes based on the new prices in due course.
In November 2024, Dangote Refinery had reduced the petrol ex-depot price to N970 per liter, followed by another drop to N899.5 in December.
African Energy Council