Dangote Refinery has announced a N100 per litre increase in the retail price of Premium Motor Spirit (PMS) nationwide.
The company disclosed this in a statement issued on Monday, confirming that its gantry price of petrol has risen to N799 per litre, while the retail price now stands at N839 per litre. This represents an increase from the N699 gantry price and N739 retail price that had been in effect since December last year.
“Under the current alignment, the PMS gantry price is N799 per litre, while MRS retail outlets are selling at N839 per litre,” the company stated.
The Chief Executive Officer of Dangote Petroleum Refinery, David Bird, said the refinery continues to supply the domestic market with about 50 million litres of PMS daily, adding that nationwide evacuation and distribution remain seamless.
According to market intelligence firm Kpler, the refinery recently resorted to gasoline imports to shore up supply capacity due to downtime at its Residual Fluid Catalytic Cracker (RFCC) unit.
As of Monday night, petrol was being dispensed at filling stations across the country, including outlets operated by the Nigerian National Petroleum Company Limited (NNPCL), at prices ranging between N805 and N830 per litre.
Industry watchers say the latest price adjustment by Dangote Refinery could trigger a broader increase in petrol prices across Nigeria’s downstream sector.
In December last year, President of the Dangote Group, Aliko Dangote, had assured Nigerians that the N739 per litre retail price would be sustained nationwide to edge out fuel importers.
“We don’t want people to sell petrol for more than N740 nationwide,” Dangote said during a briefing with journalists on Sunday, December 14.
