Dangote Refinery Raises Petrol Price to ₦799 per Litre.

The Dangote Petroleum Refinery has increased the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦699 to ₦799 per litre, marking a ₦100 upward adjustment barely weeks after a festive season price cut.

The refinery explained that the earlier ₦699 per litre price was a temporary relief measure introduced during the Christmas and New Year holidays to ease transportation costs and support Nigerians amid increased seasonal spending. With the festive period over, the company said the new price reflects a return to what it described as a more sustainable and market-aligned level.

Industry sources confirmed that the revised gantry price has already begun to impact pump prices across the country, with some filling stations, particularly those supplied directly by the Dangote Refinery, now selling petrol at between ₦830 and ₦850 per litre, depending on location and logistics costs.

The price increase is also linked to prevailing market realities, including crude oil pricing, foreign exchange pressures, distribution costs, and the deregulated nature of Nigeria’s downstream petroleum sector following the removal of fuel subsidy. Analysts note that while local refining has reduced dependence on imports, pricing remains influenced by broader economic factors.

Despite the adjustment, the Dangote Refinery reaffirmed its commitment to ensuring steady nationwide supply of petrol and supporting competition in the downstream sector. The company maintains that local refining will, over time, help stabilise prices and reduce volatility compared to the era of full reliance on imported fuel.

The latest development comes amid growing public sensitivity to fuel price movements, as petrol prices continue to play a major role in transportation costs, inflation, and the overall cost of living across Nigeria.