Dangote Refinery Raises Petrol Price Again to N1,200, Hits Consumers With Fresh Increase

Dangote Refinery has raised its Premium Motor Spirit (PMS) gantry price for the second time in less than two weeks, pushing the price to N1,200 per litre.

The latest increase adds N15 to the refinery’s previous gantry price of N1,185 per litre. An oil market survey confirmed the new adjustment.

The Dangote Refinery had increased its petrol price by N20 on 21 August. At the time, it moved the gantry price from N1,165 to N1,185 per litre.

The latest adjustment means the refinery has increased its petrol price by N35 per litre in less than two weeks.

The changes could affect petrol prices across Nigeria because the Dangote refinery supplies a significant share of the country’s petrol market.

However, the gantry price is not the same as the final pump price paid by motorists. Transport costs, distribution expenses and other market factors can influence what consumers pay at filling stations.

The latest increase comes as Nigerian consumers continue to monitor petrol prices closely. Fuel costs affect transportation, food prices and the cost of running businesses.

For motorists, the new price could add further pressure to household and business budgets if marketers pass the increase on to consumers.

Meanwhile, the frequent adjustments highlight the changing dynamics of Nigeria’s downstream petroleum market.

The Dangote Refinery has become a major player in the country’s fuel supply since it began supplying refined petroleum products to the domestic market.

For now, motorists and fuel retailers will be watching closely to see whether the latest gantry price increase leads to higher pump prices in different parts of the country.