Dangote raises petrol price by N85 amidst crude rally

Dangote Petroleum Refinery has increased the price of Premium Motor Spirit (PMS) at its gantry by N85 per litre, raising the wholesale price from N1,265 to N1,350. This 6.7 per cent increase comes amidst a sharp rise in international crude oil prices and higher petroleum product replacement costs. The new N1,350 per litre gantry price is expected to intensify pressure on downstream operators and could trigger further adjustments in petrol prices across the market, potentially leading to higher prices at filling stations and adding to the financial burden of households and businesses that rely on petrol.

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