Dangote Petroleum Refinery has announced an upward review of the pump price of Premium Motor Spirit (PMS), popularly known as petrol, with MRS Oil Nigeria Plc retail outlets now selling at ₦839 per litre nationwide.
The refinery said the price adjustment follows the conclusion of a temporary festive price support intervention introduced to ease the financial burden on Nigerians during the recent holiday season, a period typically marked by increased household spending.
According to the company, it absorbed substantial costs during the intervention in the national interest, including a reduction in prices aimed at improving affordability and maintaining market stability.
Under the new pricing structure, the PMS gantry price has been adjusted to ₦799 per litre from ₦699, a move the refinery described as necessary to ensure long-term sustainability, affordability, and stability in the downstream petroleum sector.
Dangote Refinery, however, noted that despite the earlier price reduction, many filling stations failed to pass on the benefits to consumers, thereby limiting the intended impact of the intervention.
Speaking on the development, the Chief Executive Officer of Dangote Petroleum Refinery, David Bird, said the facility continues to supply the domestic market with approximately 50 million litres of PMS daily, adding that evacuation and nationwide distribution of the product remain seamless.
