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From Adanna Nnamani, Abuja
The Dangote Petroleum Refinery has announced an increase in the price of Premium Motor Spirit (PMS), commonly referred to as petrol, due to rising global crude oil prices.
In a statement released on Friday, the refinery disclosed that the new bulk purchase rate for customers buying between 2 million and 4.99 million litres is now N955 per litre.
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For bulk buyers purchasing 5 million litres or more, the price will be N950 per litre
This adjustment reflects a 6.17% increase, which is equivalent to N55.5 per litre, compared to the discounted rate of N899.50 per litre that was available during the holiday period in December 2024.
The new pricing structure is set to take effect at 5:30 PM today, affecting all unsold stock and pending orders, as stated in the announcement
In a notice titled “Communication on PMS Price Review,” the refinery explained that the price hike is attributed to escalating global oil prices..
