Dangote refinery fuel hike sees PMS and diesel prices rise sharply, marking the third increase in a week, with PMS now at N1,175 per litre

The Dangote Petroleum Refinery has announced another increase in fuel prices, marking the third upward adjustment within a single week.

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The company raised the gantry price of Premium Motor Spirit (PMS) to N1,175 per litre on Monday, up from N995 per litre announced on Friday.

The increase represents a surge of N180, or about 18.1 per cent, over just three days, and is expected to push pump prices above N1,000 per litre nationwide.

Diesel, known locally as Automotive Gas Oil, was also affected, with the refinery revising its gantry price to N1,620 per litre.

This latest adjustment follows consecutive increases at the refinery over the past week, as reported by DAILY POST, with PMS previously rising from N874 per litre to N995 before Monday’s hike.

The series of adjustments highlights the growing volatility in Nigeria’s fuel market and the rising cost burden on consumers.

Analysts say the repeated price increases may fuel inflationary pressures across transport and manufacturing sectors, affecting businesses and households alike.

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The Dangote refinery, one of the largest in Africa, supplies a significant portion of the country’s fuel, and changes to its pricing structure are closely monitored by marketers, regulators, and consumers nationwide.