Fuel Price Rises as Dangote Refinery Increases Ex-Depot Petrol Rate to ₦1,350

The Dangote Refinery has reviewed upward its ex-depot price for petrol, raising Premium Motor Spirit (PMS) to ₦1,350 per litre from ₦1,275, a 6 per cent increase.

The price adjustment is linked to continued instability in the global crude oil market, driven by the ongoing US-Iran conflict, which has affected oil output and supply flows internationally.

A source familiar with the domestic market explained that higher feedstock costs necessitated the revision.

“The refinery’s pricing template has already been adjusted, and all stakeholders are expected to comply. In the coming days, oil marketers are likely to raise pump prices, meaning consumers will pay more,” the source stated.

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