Dangote Petroleum Refinery has raised the price of Premium Motor Spirit (PMS), amid rising global crude oil prices.

 

In a statement released on Friday, the refinery announced that the new bulk purchase rate for customers buying between 2 million and 4.99 million litres is now N955 per litre. Bulk buyers purchasing 5 million litres or more will pay N950 per litre.

 

The adjustment represents a 6.17% increase, equivalent to N55.5 per litre, compared to the discounted rate of N899.50 per litre offered during December 2024’s holiday period.

According to the statement, the new pricing structure will take effect at 5:30 PM today, impacting all unsold stock and pending orders.

 

In a notice titled “Communication on PMS Price Review”, the refinery attributed the price hike to escalating global oil prices.