- JUST IN: Fuel Price Hike: Dangote Refinery Raises PMS to N1,175 per Litre
- Diesel Price Also Increased
- ‘The latest development follows an earlier increase by the refinery
The Dangote Petroleum Refinery has again increased the price of Premium Motor Spirit (PMS), marking the third price adjustment within a week.
Eko Hot Blog reports that in a notice issued to fuel marketers on Monday, the refinery raised its gantry price of petrol to ₦1,175 per litre, up from ₦995 per litre announced on Friday.
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The latest adjustment represents an increase of ₦180 per litre, equivalent to about 18.1 per cent within just three days.
Alongside the petrol price hike, the refinery also revised the gantry price of Automotive Gas Oil (diesel) to ₦1,620 per litre.
Industry observers say the new prices are likely to push retail fuel pump prices even higher across the country, where petrol is already selling above ₦1,000 per litre in many locations.
The latest development follows an earlier increase by the refinery, which recently raised the PMS price to ₦995 per litre from ₦874 per litre.
That adjustment alone had already triggered higher pump prices nationwide.
Market analysts say the repeated increases within a short period could further affect transportation costs, food prices and overall inflation in Nigeria.
The Dangote Petroleum Refinery, located in Lagos, is expected to play a major role in Nigeria’s fuel supply chain as it ramps up operations.
