Fresh Petrol Price Pressure as Dangote Refinery Raises Gantry Price to ₦1,350

Fresh Petrol Price Pressure as Dangote Refinery Raises Gantry Price to ₦1,350

The Dangote Petroleum Refinery has raised the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,350 per litre, raising concerns over possible increases in pump prices across Nigeria.

The adjustment could affect petrol marketers who source their products directly from the refinery, as the higher cost of supplies may influence the prices eventually charged to motorists and other consumers.

The latest development comes as Nigeria’s downstream petroleum sector continues to experience price fluctuations driven by factors including crude oil prices, foreign exchange movements, logistics and prevailing market conditions.

A further increase in petrol prices could also have wider effects on transportation and businesses, particularly those that depend heavily on petrol to operate vehicles, generators and other equipment.

Motorists and consumers are therefore expected to monitor developments at filling stations as marketers respond to the new gantry price.

The situation could also reignite concerns about the rising cost of transportation and goods if higher petrol prices are passed on to consumers across different sectors of the economy.