The cost of fuel in Nigeria has climbed once more as the Dangote Petroleum Refinery announced a fresh price adjustment for Premium Motor Spirit (PMS), marking the third increase within a single week.
The refinery’s price for petrol now stands at N1,175 per litre, up from the N995 per litre reported just three days ago.
In addition to the hike in petrol costs, the refinery has also raised the price of Automotive Gas Oil, commonly known as diesel, to N1,620 per litre.
A senior official at the refinery, who spoke on the condition of anonymity, confirmed the adjustments and cited extreme market volatility as the primary driver behind the new rates.
Industry checks confirm that these revised rates are now being reflected across petroleum depot pricing systems, signaling that downstream marketers will soon adjust their retail prices accordingly.
Across the country, some filling stations have already begun retailing petrol at approximately N1,200 per litre, a development that is expected to place significant additional strain on transportation and production costs nationwide.
This latest price surge follows ongoing efforts by the Federal Government and the Nigerian National Petroleum Company Limited (NNPC) to secure consistent crude oil supplies for the refinery through international sources.
Government officials have previously cautioned that these international supply measures might not immediately translate into lower costs for the average consumer, leaving many Nigerians to contend with the escalating burden of high fuel expenses.