Dangote refinery raises petrol price to N995 per litre
The Dangote Petroleum Refinery has sharply increased its Premium Motor Spirit gantry price to N995 per litre, up from N774 within just four days. This adjustment comes amid global crude oil price volatility and rising replacement costs. According to a senior official, the new pricing reflects shifts in the international oil market and Nigeria’s fully deregulated downstream sector. The change could lead to retail pump prices exceeding N1,050 per litre in some areas.
What we know
- The Dangote Petroleum Refinery raised its petrol gantry price to N995 per litre, a N221 jump in four days.
- The previous price was N874 per litre, which itself was an increase from N774 per litre earlier in the week.
- The refinery temporarily halted petrol loading operations, causing uncertainty among depot owners and marketers.
- Officials say the price adjustments are based on global crude oil prices, logistics, and operational costs.
- Data from the Major Energies Marketers Association of Nigeria shows imported petrol is about N64 cheaper per litre than Dangote’s, and imported diesel is also less expensive than Dangote’s diesel.
