By Joshua Tosin Ogunsakin 
A new pricing update for Premium Motor Spirit (PMS), commonly known as petrol, has surfaced from the Dangote Petroleum Refinery.
Data seen by Legit indicates that on Thursday, October 9, Dangote Refinery raised its petrol price for marketers to N838 per litre, marking an increase of N5.50 or 0.66% from the earlier rate of N832 per litre.
This adjustment highlights the intensifying competition between the state-owned oil firm and private depot operators.
Data from petroleumprice.ng revealed that several depots also revised their petrol prices. Emadeb now sells at N838 per litre, up by N4; Coolspring at N835, down by N3; Aiteo at N837, up by N2; Sobaz at N870, up by N15; and Sigmund at N860, up by N6. Meanwhile, Liquid Bulk, Pinnacle, Menj, and Aipec posted mixed price movements ranging from N836 to N865 per litre.
With Dangote’s latest pricing aligning closely with the prevailing market average, industry experts anticipate that independent marketers will soon revise their retail pump prices accordingly.
Previously, Dangote Refinery had pledged that its direct sales to marketers would help lower petrol costs.
The refinery had earlier reduced its ex-depot price to N820, forecasting that retail prices would range between N841 and N851 per litre. The company emphasized its strategy by stating:
“Enjoy free delivery of petrol to your stations. Join leading companies and enjoy the benefits of free delivery while offering Nigerians lower pump prices.”
Nonetheless, the refinery’s most recent price review underscores that market forces continue to shape pricing dynamics, with petrol now being sold to marketers at N838 per litre.