Dangote Refinery announces increase in petrol gantry price

This development is expected to impact the cost of petrol at retail outlets across the country.

Dangote refinery has announced an upward adjustment in the gantry price of petrol for marketers.

The company, in an email sent to its customers and seen by PREMIUM TIMES, said the upward adjustment will take effect from Friday.

According to the company, at quantities ranging from 2 million to 4.99 million litres, customers will now pay N955 per litre, up from N899.5. However, for 5 million litres and above, the new price is N950 per litre, up from N895.

It explained that all stock balances yet to be lifted as of the stated time are to be repriced at the new reviewed prices, assuring that communication would follow regarding revised volumes based on the new pricing.

The gantry price is the price at which petroleum products are sold from the depot to the retailer before it is transported to the retail outlet and sold to the end consumer.

“Dear esteemed customers, Trust this email finds you well. Kindly be advised that effective from 5:30 p.m. 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. We shall communicate with customers on their revised volumes based on the reviewed prices in due course,” the company said.

This development is expected to impact the cost of petrol at retail outlets across the country.

On 19 December 2024, Dangote Refinery announced a price reduction from N970 per litre to N899.50 per litre for marketers. The company at the time said the reduction was designed to ease transport costs during the festive period.