BREAKING: Dangote Refinery Raises Petrol By N85 Per Litre [SEE NEW PRICE]
Dangote Petroleum Refinery has increased its Premium Motor Spirit (PMS) gantry price by ₦85 per litre, moving from ₦1,265 to ₦1,350 per litre in a 6.7 per cent upward revision driven by sharp increases in global crude oil prices.
The latest commercial adjustment pushes the refinery’s wholesale ex-gantry price above the prevailing PMS landing cost benchmark of ₦1,311 per litre, immediately reversing the plant’s earlier policy of holding its Lagos supply price.
Market intelligence gathered by Petroleumprice.ng revealed that escalating crude prices and mounting product replacement costs have intensified commercial pressure throughout Nigeria’s downstream market.
Depot marketers nationwide had already started selling stock at elevated prices ahead of the announcement, repositioning their retail operations to offset the rising cost of replenishing physical inventory.
Downstream trading participants reported that the squeeze is felt well beyond Lagos, with terminal operators in Warri, Port Harcourt, and Calabar recording similar replacement-cost pressures, though spot depot prices continue to fluctuate based on existing volumes and supplier terms.
With ₦1,350 per litre established as the refinery’s new wholesale baseline, depot owners and downstream marketers are adjusting retail figures, indicating that the sustained crude rally will continue to pressure local fuel pump prices.