The Dangote Refinery has increased the ex-depot price of Premium Motor Spirit (petrol) by N75 per litre, reflecting ongoing shifts in global oil market dynamics.
The new adjustment raises the ex-depot price from N1,200 to N1,275 per litre. In a similar move, coastal prices have also been revised upward, now standing at N1,215 per litre.
This latest price review comes amid rising crude oil prices on the international market. Brent crude is currently trading at about $115 per barrel, while West Texas Intermediate has climbed to approximately $103 per barrel.
The development represents an increase of about 3.15 percent, underscoring the impact of global price fluctuations on domestic fuel costs. Analysts note that changes in crude oil benchmarks often have a direct influence on refined petroleum product pricing, especially in markets that are sensitive to import costs and foreign exchange pressures.
The upward adjustment is expected to have ripple effects across transportation, logistics, and the broader economy, as stakeholders monitor how the new pricing structure will shape fuel supply and affordability in the coming days.
Post comments (0)