Citing rising crude oil costs worldwide, Dangote Petroleum Refinery raised the price of Premium Motor Spirit (PMS), also referred to as gasoline.
The refinery declared in a statement on Friday that N955 per liter is now the new bulk purchase cost for those purchasing between 2 million and 4.99 million litres.
Bulk customers would pay N950 per liter if they buy five million liters or more. In comparison to the discounted pricing of N899.50 per litre offered over the December 2024 holiday period, the modification implies a 6.17% increase, or N55.5 per litre.
The refinery ascribed the price increase to rising global oil costs in a notice titled “Communication on PMS Price Review.”
The new pricing structure will go into effect at 5:30 PM today, affecting all unsold stock and pending orders, the statement said.