Dangote Petroleum Refinery has announced an increase in the price of Premium Motor Spirit (PMS), commonly known as petrol, citing rising global crude oil prices as the primary reason.
In a statement released on Friday, the refinery revealed that bulk buyers purchasing between 2 million and 4.99 million litres will now pay N955 per litre, while those buying 5 million litres or more will be charged N950 per litre.
This adjustment marks a 6.17% increase, equivalent to N55.5 per litre, compared to the discounted rate of N899.50 per litre offered during the December 2024 holiday period.
The new pricing will take effect at 5:30 PM today and will apply to all unsold stock and pending orders.
In a notice titled “Communication on PMS Price Review,” the refinery attributed the price hike to the continued rise in global crude oil prices, emphasizing the impact on operating costs.
