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Bulk Buyers to Get Petrol at ₦955 From ₦899/Litre – Dangote

The Dangote Petroleum Refinery has announced an upward adjustment in the price of Premium Motor Spirit (PMS), or petrol, citing a consistent surge in the price of Brent crude, the global benchmark for oil as reported by The PUNCH.

In a statement released on Friday, the refinery disclosed that bulk buyers purchasing between 2 million and 4.99 million litres will now pay ₦955 per litre, while those buying 5 million litres or more will pay ₦950 per litre. This represents a 6.17% increase from the previous ₦899.50 per litre, which had been offered as a holiday discount in December 2024.

The new price regime is set to take effect from 5:30 PM today, with all unsold stock repriced at the updated rates.

The official notice, titled “Communication on PMS Price Review,” read in part:

“Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit… Pending stock as of the effective time will also be repriced at the updated rates.”

Oil and gas expert Olatide Jeremiah highlighted the impact of the new pricing on the downstream sector, noting that private depots and marketers will likely adjust their own rates to remain competitive.

“Dangote Refinery’s influence on fuel prices has become unmatched. Nigerians should expect an increase in petrol pump prices due to the ripple effect across depots and retailers,” Jeremiah said.

As of Thursday, Brent crude oil was priced at $81.84 per barrel, the highest in 2025, which industry stakeholders agree is a major driver of the price hike.

The Minister of State for Petroleum Resources, Heineken Lokpobiri, also affirmed that fluctuations in international crude prices now directly impact petrol prices in Nigeria, following the full deregulation of the downstream sector.

SOURCE: Opeyeminewz

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