The Dangote Refinery has raised its ex-depot price of Premium Motor Spirit to ₦1,350 per litre. This marks the 12th adjustment in five months, reflecting ongoing volatility in Nigeria’s fuel market.
A senior official of the refinery stated, “The new pricing template has been activated across the board.” The latest increase is a N75 rise from the previous price of ₦1,275 per litre. This is the second N75 increase within seven days.
The refinery has adjusted petrol prices multiple times within the past month. The adjustments relate to sustained pressure in the global oil market and recent supply chain adjustments. The price increase reflects prevailing supply and cost pressures in the system.
Key facts:
- The increase is expected to lead to higher pump prices across Nigeria.
- This adjustment follows a short-term supply squeeze created by the suspension of PFI.
- Industry operators noted that the latest hike is expected to feed directly into pump prices in the coming days.
The refinery’s frequent price changes highlight the challenges faced by Nigeria’s fuel market. Officials have not provided a timeline for stabilization. The current situation continues to affect consumers and businesses alike.