Dangote Petroleum Refinery has increased its ex-depot price of Premium Motor Spirit (PMS) to ₦874 per litre, representing a ₦100 adjustment from the previous ₦774 rate.
The upward review reflects prevailing conditions in the international crude market, where Brent prices have remained elevated above the $80 per barrel threshold, increasing feedstock acquisition costs for refiners.
The adjustment at the gantry level is expected to ripple through the downstream value chain, potentially pushing retail pump prices closer to the ₦950–₦1,000 per litre range depending on distribution margins and logistics costs across regions.
Industry sources indicate that the refinery reviewed its pricing structure in response to higher crude replacement costs and foreign exchange considerations affecting operational input expenses.
The revision comes at a time when global energy markets are experiencing heightened volatility amid geopolitical tensions in the Middle East, reinforcing upward pressure on petroleum product pricing worldwide.
Market analysts note that sustained crude price strength could keep domestic fuel prices elevated in the near term, particularly as Nigeria operates under a deregulated pricing framework.
The latest adjustment underscores the sensitivity of local fuel pricing to international oil benchmarks and exchange rate movements.
Further movements in PMS pricing are likely to track developments in global crude supply dynamics and foreign exchange stability.
