Dangote Refinery Raises Petrol Price by N85 to N1,350/Litre Amid Global Crude Surge

Dangote Petroleum Refinery has increased its Premium Motor Spirit (PMS) gantry price by N85 to N1,350 per litre, making it the latest adjustment in recent months.

The surge in global crude oil prices and higher product replacement costs have put pressure on Nigeria's downstream market, with Brent crude trading at about $107.86 per barrel on Friday.

Depot marketers across the country have been selling petrol at higher prices in anticipation of the Dangote increase, as rising replacement costs make it more expensive to replenish existing stocks.

The refinery had previously cut its petrol price by N50 and then raised it again, highlighting the extent to which domestic petrol prices remain exposed to global crude market movements.