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<p>By Yusuf Danjuma Yunusa</p><div class="Ud8f0O4b" style="clear:both;float:left;width:100%;margin:0 0 20px 0;"><script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>

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<p>The financial burden on Nigerian consumers is set to intensify following a sharp increase in petrol prices by the Dangote Petroleum Refinery, marking the third adjustment in less than a week.</p>
<p>Effective Monday, the refinery raised the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to â¦1,175 per litre. This represents a significant jump of â¦180, or approximately 18.1%, from the â¦995 per litre price announced just last Friday. In a parallel move, the gantry price of Automotive Gas Oil (diesel) was also revised upward to â¦1,620 per litre.</p>
<p>Confirming the development to our correspondent, a senior official at the refinery, who spoke on condition of anonymity due to restrictions on public commentary, stated that the changes have been formally communicated to marketers and depot operators.</p><div class="H7gx7tcQ" style="clear:both;float:left;width:100%;margin:0 0 20px 0;"><script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>

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<p>&#8220;Yes, the gantry prices have been adjusted. PMS is now â¦1,175 per litre while Automotive Gas Oil is â¦1,620 per litre,&#8221; the official said. &#8220;The market has been extremely volatile, and replacement costs have shifted significantly in recent days. These adjustments reflect prevailing market fundamentals and the cost environment we are currently operating in.&#8221;</p>
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<p>Data from the industry pricing platform, petroleumprice.ng, confirmed that the revised rates have been integrated into depot pricing systems nationwide, effectively resetting the benchmark for downstream marketers.</p>
<p>This latest surge—which has seen gantry prices climb from â¦774 to over â¦1,175 in a matter of days—is already translating to higher costs at the pump. Retail outlets in several states are now selling petrol for approximately â¦1,200 per litre, adding another layer of economic strain on households and businesses.</p>
<p>The increase is expected to trigger a fresh wave of price adjustments across the country. Higher fuel costs invariably lead to increased expenses for transportation, logistics, and production, costs that are typically passed on to consumers. This dynamic threatens to exacerbate Nigeria&#8217;s already high cost of living.</p>
<p>The price hikes underscore the challenges facing the Federal Government&#8217;s efforts to stabilize the downstream sector. Through the Nigerian National Petroleum Company (NNPC) Limited, the government has been working to secure crude oil supply for the Dangote refinery via third-party international traders in a bid to sustain local refining and, ultimately, moderate prices.</p>
<p>However, officials caution that these interventions may not yield immediate relief for consumers. As the 650,000-barrel-per-day Lekki-based refinery adjusts its prices in response to volatile market realities, Nigerians are left grappling with the immediate consequences of a deregulated market where pump prices are increasingly subject to global and local market forces.</p>
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