Dangote Refinery Hikes Petrol Price to N850 per Litre, Marketers Brace for Higher Costs

|By Adejumo Adekunle

The Dangote Refinery has raised its ex-depot price of Premium Motor Spirit (PMS) from N820 to N850 per litre, marking a fresh N30 increase in the cost of petrol at source.

National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, confirmed the development on Friday, stating that the refinery had resumed petrol sales after a temporary suspension last week.

“The new ex-depot price of petrol at the refinery is N850 per litre,” Maigandi said, warning that the hike would compel marketers and retailers to pay more for supplies from the 650,000-barrel-per-day plant.

The fresh increase comes just days after pump prices in Abuja spiked to N955 per litre at some outlets before settling at around N900. Major retailers such as Ranoil, AA Rano, and Empire Energy are currently selling petrol between N950 and N955 per litre in the Federal Capital Territory.

Industry watchers say the hike will likely trigger another wave of pump price adjustments nationwide, piling more pressure on consumers already grappling with high fuel costs.