Dangote Refinery has increased the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦75, raising it from ₦1,200 to ₦1,275 per litre.
Industry sources also confirmed that coastal prices have risen to ₦1,215 per litre, reflecting broader adjustments across supply channels.
The latest price review comes amid rising global crude oil prices, with Brent crude trading at $114.80 per barrel. Analysts say the development represents an estimated 3.15 per cent increase, driven largely by international market pressures.
Market observers note that fluctuations in crude oil prices continue to influence domestic fuel pricing, particularly in a deregulated environment where operators adjust rates in response to global trends.
While there has been no immediate official statement from the refinery on the adjustment, stakeholders say the increase may have ripple effects on pump prices and transportation costs across the country.
Energy experts maintain that sustained volatility in crude oil markets could lead to further pricing changes, urging authorities to monitor the situation closely to mitigate the impact on consumers.
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