Dangote Refinery Blames Petrol Price Hike On Rising Global Crude Oil Prices, Vows N970/Litre Retail Price For Consumers

 

 

 

 

 

 

 

 

 

The Dangote Petroleum Refinery has said that the recent increase in the pump price of Premium Motor Spirit (PMS), popularly known as petrol, is not from the company but motivated by the increment in the price of crude oil in the global market.

Dangote Petroleum Refinery on Friday announced an increment in their petrol price, saying that their refined products will be sold at N955 per litre at the loading gantry, which is a significant jump from the previous price of N899.

According to the company, marketers buying between 2 and 4.99 million litres will pay N955/litre, while those purchasing 5 million litres or more will receive a slight discount at N950/litre.

This adjustment represents a 6.17% increase, adding N55.5 per litre to the previous discounted rate of N899.50/litre, which was a promotional offer during the December holiday season.

The price increase applied to all remaining inventory as of the effective time, and any pending stock will also be repriced according to the new rates.