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Dangote Increases Petrol Price To N955 Per Litre

Dangote Refinery Raises Petrol Prices Amid Rising Global Crude Oil Costs

paulcraft by paulcraft
January 18, 2025
in National
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  • Dangote Refinery increased bulk petrol prices to N955 per litre for purchases between 2-4.99 million litres, citing rising crude costs
  • Bulk buyers of 5 million litres or more will pay N950 per litre, reflecting a 6.17% increase from the previous discounted rate

A change to the Dangote Petroleum Refinery’s Premium Motor Spirit (PMS) (petrol) pricing structure has been announced.

The refinery published the new price structure in a notice titled “Communication on PMS Price Review” on Friday. It set the new bulk purchase cost at N955 per litre for clients buying between 2 million and 4.99 million litres.

The letter states that bulk purchasers purchasing 5 million litres or more will now pay N950 per litre.

In comparison to the discounted cost of N899.50 per litre offered during the holiday period in December 2024, this price adjustment represents a 6.17% increase, or N55.5 per litre.

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The notification further stated that any unsold stock balances and pending orders will be impacted by the revised rates, which are scheduled to go into effect at 5:30 p.m. today (Friday).

Dangote refinery informed its customers of the price revision, attributing the change to rising global oil prices.

“Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit.

“Please note that all stock balances yet to be lifted as at the above-stated time are to be repriced at the new reviewed prices.

“We shall communicate with customers on their revised volumes based on the reviewed prices, in due course,” it read in part.

Daily Trust reports that the increase is in response to the consistent surge in the price of Brent, the global benchmark for crude.

Brent crude oil surged to $81.84 per barrel—the highest level in 2025—further straining domestic petroleum pricing.

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