Fuel Price Tension as Dangote Refinery Raises Petrol to ₦995 per Litre

Fresh tension has emerged in Nigeria’s downstream petroleum sector after the Dangote Petroleum Refinery increased the price of Premium Motor Spirit (PMS), also known as petrol, to about ₦995 per litre.

The new price adjustment has reportedly sparked disagreement between fuel marketers and officials of the refinery, with some marketers questioning the basis for the increase.

Industry sources indicated that the development led to heated exchanges during discussions over the new pricing structure, as marketers expressed concerns about the impact the increase could have on fuel distribution and retail prices across the country.

Some marketers reportedly argued that the higher depot price may place additional pressure on operators and eventually affect consumers who are already facing rising transportation and living costs.

However, representatives of the refinery were said to have defended the price change, explaining that the adjustment reflects current market realities and operational costs associated with fuel production and supply.

The development has generated renewed debate within the oil and gas sector, particularly as petrol pricing remains a sensitive issue for many Nigerians who depend on fuel for transportation, business operations, and electricity generation.

The Dangote Group refinery located in Lagos is expected to play a major role in stabilising fuel supply in the country. Industry observers say pricing decisions from the refinery are likely to have significant influence on the broader petroleum market.

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