BREAKING: Dangote Raises PMS Gantry Price To N1,175 Per Litre

The Dangote Petroleum Refinery has again increased the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, to N1,175 per litre, marking another upward review in fuel pricing.

The latest adjustment represents the third increase in petrol prices within seven days.

The new price was communicated to petroleum marketers and depot operators on Monday, rising sharply from N995 per litre, which was announced last Friday.

The N180 increase per litre represents an 18.1 per cent jump within three days, raising concerns among marketers and consumers about a likely increase in pump prices across filling stations nationwide.

Industry operators say the increase could further push up the cost of transportation and goods, worsening the burden on households already facing high inflation.

The refinery adjusted the gantry price of Automotive Gas Oil (AGO), also known as diesel, to about ₦1,620 per litre.

The development comes amid volatility in global oil markets and rising crude prices linked to geopolitical tensions in the Middle East.

As of the time of filing this report, the crude oil prices have hit $104.4 per barrel from $92.69 yesterday.

Meanwhile, marketers under the aegis of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN),has warned that Premium Motors Spirit could rise close to N2,000 per litre while diesel may approach N3,000 per litre if the ongoing Middle East war persists.

The National President of PETROAN, Billy Gillis-Harry, gave the warning on Monday in Port Harcourt while delivering a keynote address titled “Deconstructing Energy Trilemma,” organized by the Department of Petroleum Economics and Policy Studies, Ignatius Ajuru University of Education.