Petrol prices in Nigeria are on the rise again. Dangote Petroleum Refinery has increased the gantry price of Premium Motor Spirit (PMS) to ₦1,175 per litre, up from ₦995 just days ago—marking the third price hike in a week. Diesel (Automotive Gas Oil) has also been revised to ₦1,620 per litre.
The move is expected to drive further increases at retail filling stations, putting more pressure on transportation, logistics, and the cost of goods nationwide. Officials cite volatile market conditions and rising replacement costs as key factors behind the adjustment.
Key points:
- PMS price surged by ₦180 within three days (18.1% increase)
- Diesel now priced at ₦1,620 per litre
- Retail prices in some states have exceeded ₦1,200 per litre
- Federal Government and NNPC are exploring foreign crude supply to stabilize domestic refining
