The Dangote Petroleum Refinery has implemented another significant upward adjustment to its fuel prices, marking the third such increase within just one week. According to a notification sent to marketers this Monday, the gantry price for Premium Motor Spirit—popularly known as petrol—has been moved to N1,175 per litre. This is a substantial jump from the N995 per litre figure that was announced only last Friday.
This latest adjustment represents a sharp increase of N180, or roughly 18.1 percent, in the span of just three days. Alongside the petrol hike, the refinery also revised the gantry price for Automotive Gas Oil, or diesel, which now stands at N1,620 per litre.
These persistent price changes continue to impact the broader fuel market. Just over the past weekend, the refinery had already raised the cost of petrol from N874 to N995 per litre, a move that effectively pushed pump prices at stations across the country well above the N1,000 per litre threshold. Industry observers noted to Reports that these rapid fluctuations are creating significant concern for marketers and consumers alike, as the cost of energy continues to climb.
As the market adjusts to these new gantry prices, many are watching closely to see how the downstream sector will absorb these costs and what the long-term impact on national transport and logistics will be. Reports will keep monitoring the situation as fuel retailers begin to update their pump prices to reflect these latest figures.
