Again, Dangote Refinery Announces New Petrol Price

Dangote Refinery Announces New Petrol Price
Dangote Petroleum Refinery has announced a revised price for Premium Motor Spirit (PMS), commonly known as petrol, following a sustained increase in Brent crude oil prices.
The refinery’s new pricing structure sets the price at ₦955 per litre at the loading gantry, a ₦55.5 increase (6.17%) from the ₦899.50 per litre offered in December of the previous year.
Marketers purchasing between 2 million and 4.99 million litres will pay ₦955 per litre, while those acquiring 5 million litres or more will be charged ₦950 per litre. The new rates will take effect from 5:30 PM today.
This adjustment, highlighted in a statement titled “Communication on PMS Price Review,” will impact all stock balances not yet lifted by the specified time and any pending stock.
The statement also noted that the price changes will be communicated to customers in due course.
Industry experts predict that the new pricing regime will have a significant impact on private depots and retail markets. Olatide Jeremiah, CEO of Petroleum Price.ng, said that the Dangote Refinery‘s influence on fuel pricing is unparalleled, and a corresponding increase in pump prices is expected across Nigeria.
With the international price of Brent crude oil currently at $81.84, the price hike reflects the ongoing fluctuations in global oil prices, as noted by Nigeria’s Minister of State for Petroleum Resources, Heineken Lokpobiri. He emphasized that with the downstream sector now fully deregulated, the government no longer controls fuel prices.
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