Dangote Petroleum Refinery has raised its Premium Motor Spirit (PMS) gantry price by ₦85 per litre, from ₦1,265 to ₦1,350 per litre, representing a 6.7 per cent increase, Petroleumprice.ng gathered.
The new price comes amid a sharp rise in international crude oil prices and higher petroleum product replacement costs, with PMS landing cost now at ₦1,311 per litre. The latest adjustment puts Dangote’s ex-gantry price above the current landing-cost benchmark.
The increase reverses the refinery’s earlier decision to hold its Lagos PMS price, as rising crude prices and replacement costs have intensified pressure across the downstream market.
Depot marketers across the country have also been selling at higher prices in anticipation of the increase, with marketers adjusting their positions as the cost of replenishing existing stocks rises.
The pressure is not isolated to Lagos. Market participants are reporting similar replacement-cost concerns across the major coastal trading hubs, including Warri, Port Harcourt and Calabar, although the actual depot price varies by supplier, stock position and product availability.
The ₦1,350 per litre gantry price now becomes Dangote Refinery’s latest wholesale reference point, leaving depot owners and marketers to reassess their selling positions as the crude rally continues to feed into downstream replacement economics.