Dangote Refinery Hikes Petrol Gantry Price to N799, Retail Price Hits N839

Dangote Petroleum Refinery has increased the gantry price of Premium Motor Spirit (PMS), also known as petrol, from N699 per litre to N799 per litre, signalling the end of its temporary festive price support.

The refinery announced the adjustment in a statement issued on Monday evening. Following the increase, MRS Oil Nigeria Plc filling stations supplied by the refinery will now sell petrol to motorists at N839 per litre.

According to the refinery, the price change reflects a return to what it described as sustainable pricing levels after the conclusion of the festive season. It explained that the earlier price support was introduced to ease the financial burden on Nigerians during a period of heightened consumer spending.

“With the festive period concluded, PMS prices have been modestly realigned to sustainable levels to support long-term market stability and affordability,” the refinery said. “Under the current alignment, the PMS gantry price is N799 per litre, while MRS retail outlets are selling at N839 per litre.”

Dangote Refinery noted that during the festive period, it deliberately absorbed higher costs to promote affordability and calm in the downstream petroleum market. However, it expressed concern that many filling stations failed to reflect the reduced prices at the pump, denying consumers the full benefits of the intervention.

The company reiterated its role as a stabilising force in Nigeria’s downstream petroleum sector, stressing that domestic refining helps shield the market from import-related volatility and external supply disruptions.

Providing further insight, the refinery disclosed that it currently supplies about 50 million litres of PMS daily to the domestic market, with evacuation and nationwide distribution operating smoothly to ensure consistent availability.

Chief Executive Officer of Dangote Petroleum Refinery, David Bird, said the facility’s flexible design allows it to process a wide range of crude oil and feedstocks, ensuring uninterrupted petrol supply even during planned maintenance.

Dangote Petroleum Refinery, Africa’s largest single-train refinery, said it remains committed to energy security, price stability and long-term value for Nigerian consumers despite the recent price adjustment.