Dangote Refinery Increases Petrol Price to N1,215 per Litre

Dangote Petroleum Refinery has raised its ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N1,075 to N1,215 per litre, marking a 13.02% increase. This adjustment comes after the refinery resumed gantry loading of petrol in naira, having suspended truck loading operations for about a week.

The price hike is anticipated to affect fuel prices across Nigeria, with several filling stations in Lagos and Ogun states already adjusting their pump prices to approximately N1,300 per litre. The increase is attributed to rising international crude oil prices and efforts to restore normal product distribution following recent supply disruptions.

The refinery had previously suspended loading due to inadequate crude oil supplies from the Nigerian National Petroleum Company Limited (NNPCL), receiving only three of the expected 14 crude cargoes under a naira-for-crude arrangement. Marketers have been notified of the resumption of gantry loading, and truck loading is expected to commence immediately under the new pricing structure.