Dangote increases PMS prices at gantry amid volatile oil prices

The Dangote Refinery has announced an upward review in the price of Premium Motor Spirit (PMS) from the refinery.

The new price, effective today, at 5:30 pm, will impact marketers lifting volumes of PMS, with new prices reflecting significant increases compared to previous rates.

Based on volume, marketers, who were buying from the refinery at quantities ranging from 2million to 4.99 million litres will now pay N955 per litre as against N899.50.

For those who are going for five million litres and above, the price has increased from N895 to N950 per litre.

A copy of an email sent to customers from the refinery noted that all stock balances not yet lifted by the stipulated time would be repriced at the updated rates.

The email reads: “Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit (PMS), as detailed in the table below.

“Please note that all stock balances yet to be lifted as at the above stated time, are to be repriced at the new reviewed prices.”

The organisation assured its customers that communication would follow regarding revised volumes based on the new pricing.

Given price determinant factors by major players like Dangote, there are indications that price would be adjusted upward by most marketers across the country with motorists paying more.