Dangote Refinery has increased petrol prices to N955 per litre for bulk buyers, effective January 17, 2025. The hike, driven by rising global crude oil prices, applies to all unsold stock and pending orders. Bulk purchases exceeding 5 million litres will enjoy a slightly reduced rate of N950 per litre.
In a move reflecting the impact of global crude oil trends, Dangote Petroleum Refinery has announced a new pricing structure for Premium Motor Spirit (PMS), effective January 17, 2025. The revised rates set the price at N955 per litre for bulk purchases between 2 million and 4.99 million litres. That buying in larger volumes, exceeding 5 million litres, will pay a slightly lower rate of N950 per litre.
The price adjustment represents a 6% increase compared to the discounted holiday rate of N899.50 per litre offered in December 2024. According to the refinery, this change will apply to all unsold stock and pending orders after 5:30 PM on the effective date.
Dangote Refinery explained that the revision was necessary due to increasing global oil prices, with Brent crude recently hitting $81.84 per barrel, the highest level recorded in 2025. The surge in crude costs has placed additional pressure on domestic fuel pricing, prompting the adjustment.
The announcement has sparked reactions from industry stakeholders and consumers, who are already grappling with the financial strain of rising living costs. The refinery has assured customers that revised volume calculations based on the new rates will be communicated promptly.
