Dangote Refinery has increased the ex-depot price of Premium Motor Spirit (PMS) from ₦774 to ₦874 per litre, representing a ₦100 hike, Petroleumprice.ng reports. The adjustment, which takes immediate effect, comes amid the sharp surge in global crude oil prices above the $80 per barrel threshold. Consequently, petrol loading previously halted at midnight has now resumed at the new price, while Proforma Invoice (PFI) issuance has reopened strictly based on the revised rate.
Meanwhile, approved marketers around the refinery have begun adjusting their selling prices in response to the hike. Market checks indicate that several marketers are now offering PMS at ₦900 per litre, while a few depots have fixed prices slightly lower at ₦895 per litre. The rapid adjustment underscores the direct impact of rising crude oil prices on Nigeria’s downstream petroleum market, with further price realignments expected as operators reassess replacement costs.