Dangote Petroleum Refinery has raised the price of Premium Motor Spirit (PMS), commonly known as petrol, citing the ongoing rise in global crude oil prices.
In a statement issued on Friday, the refinery confirmed that the new bulk purchase price for customers purchasing between 2 million and 4.99 million litres has been set at ₦955 per litre. Bulk buyers purchasing 5 million litres or more will pay ₦950 per litre.
This price adjustment reflects a 6.17% increase, amounting to an additional ₦55.5 per litre, compared to the discounted rate of ₦899.50 per litre that was offered during the December 2024 holiday period.
The new pricing structure will be effective from 5:30 PM today, affecting all unsold stock and pending orders, as stated in the refinery’s announcement.
In a notice titled “Communication on PMS Price Review,” Dangote Refinery explained that the price hike is a result of the rising global oil prices.
