- Admits poor price reduction management by MRS retail outlets
Sopuruchi Onwuka
Dangote Petroleum Refinery & Petrochemicals has announced an increase in loading price for the Premium Motor Spirit (PMS) popularly called petrol at its gantries, indicating a N100 jump in the retail price of the product from current N739 to N839 per liter at MRS retail outlets.
The refinery reaffirmed its commitment to market stability and uninterrupted nationwide supply of PMS, describing the adjustment as a modest realignment following a temporary festive price support intervention.
Dangote claimed in a statement circulated Monday night that it deliberately absorbed significant costs during the recent festive period to cushion Nigerians amid heightened household spending.
“This marked the second consecutive festive season in which the refinery intervened in the national interest, following logistics support in 2024 and a price reduction in 2025 to promote affordability and market calm,” the company stated.
Oracle Intelligence reports that price adjustments by the domestic refiner directly follow changes in the international prices of crude oil, even though the refiner sources its crude oil locally and in Naira. The price reduction by Dangote had come at the time of crude oil price dip is in the international market just as Christmas closed in.
However, the refinery blamed petroleum marketers for poor price management in December, admitting that many filling stations failed to reflect the reduced prices at the pump. As a result, consumers were denied the benefits of the festive price intervention.
Oracle Intelligence had in December reported that Dangote’s price reduction was not well implemented as many MRS retail outlets maintained higher prices than the N739/liter declared by the refiner.
With crude oil prices rising from about $60 per barrel in December to about $66 per barrel across the weekend, Dangote has raised the price floor for its fuels, saying that gantry prices would now rise to N799 per liter.
“With the festive season concluded, PMS prices have now been adjusted to what the refinery described as sustainable levels to support long-term affordability and market stability. Under the current pricing structure, the PMS gantry price stands at N799 per litre, while the retail price at MRS outlets is N839 per liter,” the company stated.
The company had earlier lost the price floor for petrol to importers whose outlets sell lower than the local refiner. Checks by Oracle Intelligence on Monday showed some Mobil filling stations selling petrol at N734 per liter. Some independent marketers including Al-Morouf sold at N738 in Alimosho area of Lagos.
The Chief Executive Officer of Dangote Petroleum Refinery, Mr. David Bird, is quoted in the statement as saying that the refinery continues to supply the domestic market with approximately 50 million litres of PMS daily, adding that nationwide evacuation and distribution remain normal.
He explained that the refinery’s flexible design allows it to process a wide range of crude and intermediate feedstocks, ensuring continued PMS supply even during planned maintenance activities.
As a domestic producer, Dangote Petroleum Refinery said it continues to shield the Nigerian market from import-related volatility and external supply disruptions, while serving as a stabilising force in the downstream petroleum sector.
The company reiterated its focus on delivering energy security, price stability, and long-term value for Nigerians.
