Dangote Petroleum Refinery has announced an increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, with MRS Oil Nigeria Plc retail outlets now selling the product at N839 per litre nationwide. The adjustment follows the end of a temporary festive price support intervention introduced by the refinery to ease the financial burden on Nigerians during the recent holiday season, a period typically characterised by increased household spending.
According to the refinery, the earlier intervention involved absorbing significant costs in the national interest, including a reduction in the PMS gantry price to promote affordability and market stability. With the conclusion of the programme, the gantry price has been realigned to N799 per litre from N699 per litre, a move the company said was necessary to ensure long-term sustainability, affordability and stability in the downstream petroleum market. The refinery also noted that many filling stations failed to pass on the reduced prices to consumers during the intervention period.
Speaking on the development, the Chief Executive Officer of Dangote Petroleum Refinery, David Bird, said the facility continues to supply about 50 million litres of PMS daily to the domestic market. He added that nationwide evacuation and distribution of the product remain seamless, assuring consumers of steady supply despite the price adjustment.