The Pathfinder
Tuesday March 3, 2026
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The Dangote Refinery has increased its Premium Motor Spirit (PMS) gantry price by N75, raising the cost from N799 to N874 per litre.
The 650,000-barrel-per-day refinery effected the new price on Monday, marking another upward adjustment in less than two months.
The development was confirmed by the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike.
Ukadike attributed the price hike to volatility in global crude oil prices following the escalating Iran–United States–Israel conflict.
“It is due to global crude oil price volatility following the Iran-US-Israel war. It is the ripple effect of the ongoing conflict,” he said.
He noted that the increase at the gantry level is expected to trigger a corresponding rise in retail fuel prices across the country.
On Monday, Brent crude and West Texas Intermediate rose to $78.50 and $71.84 per barrel respectively, up from $72.87 and $67.02 recorded on Saturday.
The latest adjustment comes after the refinery, owned by billionaire industrialist Aliko Dangote, increased its petrol price by N100 to N799 per litre on January 27.
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