Dangote Petroleum Refinery and Petrochemicals Limited has denied claims that it increased the gantry price of petrol, stating that the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, remains unchanged.

In a statement issued on Wednesday, the refinery said it had not raised its petrol loading price and described reports circulating on social media, particularly on X, as false.

The company said maintaining its current pricing structure reflects its commitment to supporting stability in the domestic energy market and cushioning the broader economy from external shocks.

The clarification followed widespread claims that the refinery had increased its ex-depot price by N75, from N1,275 per litre to N1,350 per litre.

The speculation comes amid rising global crude oil prices triggered by escalating tensions in the Middle East.

Since the US-Israel attack on Iran on 28 February, which disrupted global crude supply through the Strait of Hormuz, crude oil prices have risen sharply, crossing the $100 per barrel mark.

The disruption has sent shockwaves across the global economy, with fuel prices rising significantly in several countries, including Nigeria.

As global crude prices continue to fluctuate, Dangote Refinery has adjusted its petrol prices several times in recent months.

READ ALSO: Dangote denies rift with Tony Elumelu, rejects refinery funding claims

Petrol, which sold for about N870 per litre before the Middle East crisis intensified, is now selling for N1,370 and above in major Nigerian cities.

Amid renewed speculation of another price increase, the refinery said it continues to absorb prevailing cost pressures to moderate inflationary risks, promote energy affordability, and ensure uninterrupted supply.

“Dangote Refinery reaffirmed its dedication to the steady supply of high-quality petroleum products to the Nigerian market, while supporting national objectives of price stability and energy security,” the statement said.

The company urged the public to rely solely on official statements from Dangote Petroleum Refinery and Petrochemicals Limited for accurate, up-to-date information on its operations and pricing.

Dangote Refinery denies increasing petrol price at depot

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