Dangote Refinery Raises Fuel Prices to ₦1,175/Litre
Dangote Petroleum Refinery has increased the gantry price of Premium Motor Spirit (PMS) to ₦1,175 per litre and Automotive Gas Oil (AGO) to ₦1,620 per litre, marking the fourth consecutive price review in two weeks. This follows a ₦180 increase for petrol and ₦190 for diesel from their previous rates of ₦995 and ₦1,430 respectively. The revisions align with a 10.91% surge in Brent crude oil to $102.8 and an 11.08% rise in WTI crude to $101.0, driven by the ongoing Middle East energy crisis. The refinery, Nigeria's largest, has not yet issued an official statement on the changes. Industry sources indicate the new pricing template was communicated to marketers amid global market volatility.