Business News of Monday, 20 October 2025
Source: www.legit.ng
The prospect of lower fuel prices at filling stations has been dashed as the Dangote Refinery increased the ex-depot price for Premium Motor Spirit (PMS), popularly known as petrol, to N881 per litre.
The new price is N4 or a 0.45% increase when compared to the N877 on Friday, October 18 when the petrol bulk sales resume.
The adjustment is also N61 higher than the rate announced in September, with a promise to lower retail prices to N841.
With the latest change, Dangote Refinery is now selling petrol above several private depot operators, according to market data from Petroleumprice.ng.
Checks across the market revealed that at least six depot operators are currently selling petrol below N881 per litre.
These include Aiteo and Optima, both offering the product at N878 per litre, while Rainoil Delta, Matrix Warri, Sahara, and A.Y.M Shafa sell at N880 per litre Olatide Jeremiah, Chief Executive Officer of Petroleumprice.ng explained the impact of Dangote petrol price.
He said: “Dangote Refinery’s huge size and capacity mean it largely dictates the pace of pricing, and depot owners will likely adjust to stay competitive.”