Dangote Petroleum Refinery has announced an increase in its Premium Motor Spirit (PMS) prices, also known as petrol, in response to surging global crude oil prices.

In a statement released on Friday, the refinery revealed the new pricing structure, setting the bulk purchase rate at N955 per litre for customers buying between 2 million and 4.99 million litres. Bulk buyers purchasing 5 million litres or more will pay N950 per litre.

This adjustment represents a 6.17% rise, or N55.5 per litre, compared to the N899.50 per litre rate offered during the December 2024 holiday period.

The new prices will take effect from 5:30 PM today, impacting all unsold stock balances and pending orders. The refinery’s notice, titled “Communication on PMS Price Review,” cited rising global oil prices as the reason for the increase.