The Dangote Petroleum Refinery has announced an upward revision in its pricing structure for Premium Motor Spirit (PMS), commonly known as petrol, citing rising global crude oil prices as the reason for the adjustment.
In a statement titled “Communication on PMS Price Review,” released on Friday, the refinery outlined the new bulk purchase rates.
Customers buying between 2 million and 4.99 million litres will now pay N955 per litre, while bulk buyers acquiring 5 million litres or more will enjoy a slightly lower rate of N950 per litre.
This represents a 6.17% increase, or an additional N55.5 per litre, compared to the discounted price of N899.50 per litre offered during the December 2024 festive period.
The revised pricing took effect from 5:30 PM on Friday and applies to all unsold stock balances and pending orders, according to the notice issued by the refinery.
“Effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit. All stock balances yet to be lifted as of the above-stated time are to be repriced at the new rates,” the notice stated.
The refinery attributed the hike to the continuous surge in global crude oil prices, with Brent crude, the international benchmark, recently reaching $81.84 per barrel, its highest level in 2025.
Customers were also assured of further updates regarding revised volumes and future pricing adjustments.
