By Attah Ede
Dangote Petroleum Refinery has announced new gantry price of ₦85 per litre on its Premium Motor Spirit (PMS), also known as petrol.
The refinery raised the price from ₦1,265 to ₦1,350 per litre, representing a 6.7 per cent increase.
The adjustment is expected to affect fuel marketers deriving petrol directly from the refinery and could trigger corresponding changes in retail pump prices across the country.
The latest increase comes amid continued fluctuations in global crude oil prices and developments in Nigeria’s downstream petroleum market.
The higher ex-depot cost could also have wider implications for transportation fares, operating costs for businesses and household spending if marketers pass the increase on to consumers.
The new trend adds fresh pressure to petrol prices, which have remained sensitive to changes in crude oil prices, exchange rates and domestic market conditions
