The Dangote Petroleum Refinery has implemented its third petrol price hike in just seven days, raising the gantry price of Premium Motor Spirit (PMS) to ₦1,175 per litre. This latest adjustment was communicated to marketers and depot operators on Monday.
This new rate marks a significant 18.1% surge in just three days. The price jumped by ₦180 from the previous ex-depot rate of ₦995 per litre, which had only been announced this past Friday.
The price volatility began earlier last week when the refinery first lifted gantry prices from ₦774 to ₦995. This rapid succession of increases highlights a tightening window of price stability for fuel distributors.
In addition to petrol, the refinery also adjusted the gantry price for Automotive Gas Oil (diesel). Diesel is now set at ₦1,620 per litre, reflecting a broader upward trend in energy costs across the board.
