By Ayo Kehinde
Dangote Refinery has increased its depot price for Premium Motor Spirit (PMS) to ₦1,350 per litre, marking a ₦75 rise from the previous ₦1,275 per litre.
Petroleum.org on Wednesday, confirmed the new pricing, while a senior refinery official said the adjustment has been implemented across all loading channels.
“The new pricing template has been activated across the board. All loading points have been updated, and marketers are already responding by adjusting their depot prices”, the official said.
The latest increase comes barely a week after the refinery raised its ex-depot price from ₦1,200 to ₦1,275 per litre, indicating a rapid shift in pricing within the downstream sector. It is the second ₦75 increment recorded within seven days.
Industry sources attributed the adjustment to a combination of supply challenges, international crude price movements, and logistics costs.
A market source also noted that the recent suspension of the issuance of pro forma invoices (PFI) disrupted supply scheduling and contributed to tighter product availability.
“The suspension of PFI created a short-term supply squeeze. When combined with global crude trends and logistics costs, depot prices adjusted accordingly”, the source said.
