Dangote Raises Petrol Price to N1,350 per Litre

Dangote Petroleum Refinery has increased its petrol gantry price for the fourth time in less than a month, raising the cost of Premium Motor Spirit (PMS) to N1,350 per litre, an increase of N185 from N1,165 on August 21. This represents a 15.9% rise in about three weeks.

The latest increase took effect on Saturday, with the price rising by N85 from N1,265 to N1,350. Previous increases included adjustments to N1,185 on August 21, N1,200 on August 26, and N1,265 shortly thereafter.

The coastal price also rose from N1.67 million to approximately N1.78 million per metric tonne. The increase has prompted filling stations to adjust their prices to between N1,380 and N1,400 per litre.

Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, indicated that the refinery's pricing reflects global oil price movements and warned that petrol prices could reach N2,000 per litre without government intervention.