Dangote Refinery has announced a N100 per litre increase in the retail price of Premium Motor Spirit nationwide.

 

 

 

In a statement released by the refinery, the gantry price of petrol has risen to N799 per litre, while the retail price now stands at N839 per litre, up from N699 and N739 per litre respectively, which had been in place since December last year.

 

 

 

“Under the current alignment, the PMS gantry price is N799 per liter, while MRS retail outlets are selling at N839 per liter,” the company stated.

 

 

 

Dangote Refinery had earlier resorted to gasoline imports to boost supply amid downtime at its Residual Fluid Catalytic Cracker, according to market intelligence firm Kpler.

 

 

 

As of Monday night, retail filling stations across the country, including those operated by the Nigerian National Petroleum Company Limited, were dispensing petrol at prices ranging between N805 and N830 per litre.

 

 

 

The latest increase by Dangote Refinery is expected to trigger further petrol price adjustments across the downstream sector.

 

 

 

In December last year, the president of the refinery, Aliko Dangote, said the N739 per litre retail fuel price would be maintained nationwide to edge out importers.

 

 

 

“We don’t want people to sell petrol for more than N740 nationwide,” Dangote said.