Dangote Petroleum Refinery has fixed the ex-depot price of Premium Motor Spirit (petrol) at $0.779 per litre, unveiling a new pricing template that also raises the benchmark prices for diesel and aviation fuel following its transition to dollar-denominated transactions.
The move signals an end to naira payments for the purchase of refined petroleum products, which began under the Federal Government’s naira-for-crude arrangement that commenced on October 1, 2024.
The development marks a major shift in the refinery’s commercial operations and could reshape pricing dynamics in Nigeria’s deregulated downstream petroleum sector, where Dangote has emerged as the country’s largest supplier of refined petroleum products.
The revised prices, which took effect on Monday, place Automotive Gas Oil (diesel) at 0.942 per litre, while coastal deliveries of PMS have been fixed at $1,044.62 per metric tonne.
The refinery disclosed the new rates in a notice issued to petroleum marketers and customers, stating that all previously issued naira-denominated Proforma Invoices and Deal Recaps for gantry and coastal transactions had become invalid.
