The average retail price of Premium Motor Spirit (PMS), commonly known as petrol, rose to N1,037.66 in June 2025, marking a 38.32% year-on-year increase from N750.17 recorded in June 2024.
Economist and energy sector analyst Kelvin Emmanuel has stated that the Dangote Refinery is currently the only facility in Nigeria genuinely producing Premium Motor Spirit (PMS), commonly referred to as petrol.
The Nigerian National Petroleum Company Limited (NNPCL) has denied the claim in a viral video on social media that Premium Motor Spirit (PMS) from its outlets is substandard and does not last long compared to that refined by Dangote.
Shares of MRS Oil Nigeria Plc (CHEVRON) have increased by over 36% month-to-date on the Nigerian stock exchange, bringing its year-to-date performance to 71.42%.
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has stated that the Port Harcourt Refinery Company Limited has not yet released any new purchase price for Premium Motor Spirit (PMS).
The price of Premium Motor Spirit (PMS), commonly known as petrol, has crossed the N1,000 mark for the first time, recording a 24.08% increase in September when compared to the figure in August.
The price of Premium Motor Spirit (PMS), commonly known as petrol, saw a notable increase in August, rising from N770.54 in July to N830.46, according to data from the National Bureau of Statistics (NBS).
The Nigerian National Petroleum Company (NNPC) Limited has said it would be grateful for any discount from Dangote Refinery as it released an updated pricing chart for Premium Motor Spirit (PMS) supplied by the refinery for September 2024.
The average retail price for petrol in the Northwest zone in July 2024 stood at N820.10 per litre, the highest among all six geopolitical zones.
Dangote Refinery is ramping up production for the supply of Premium Motor Spirit (PMS), commonly known as petrol, this month as sales of product is expected to circulate the local market in August.
Since the removal of the fuel subsidy in 2023, the average retail price of petrol in Nigeria has surged, affecting the economy.
The average retail price of Premium Motor Spirit (Petrol) in Nigeria for May 2024 surged by 223.21% to N769.62 per litre, compared to N238.11 per litre in May 2023.
