Dangote Refinery has raised the price of Premium Motor Spirit (PMS), also known as petrol, blaming higher global crude oil costs.
In a statement issued Friday, the refinery revealed that the new bulk purchase cost for clients purchasing between 2 million and 4.99 million litres is now N955 per litre.
Bulk purchasers who buy 5 million or more litres would pay N950 per litre. The change represents a 6.17% rise, or N55.5 per litre, over the discounted rate of N899.50 per litre offered over the December 2024 holiday period.
The new pricing structure will go into effect at 5:30 p.m. today, affecting all unsold stock and pending orders, according to the announcement. The refinery blamed the price increase on rising global oil prices in a notification titled “Communication on PMS Price Review”.
