Dangote increases 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 announced the new pricing structure setting 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, according to the notice. This price adjustment reflects 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 added that the new rates are set to take effect from 5:30pm today (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 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