• Home
  • About Us
  • Contact Us
Wednesday, September 17, 2025
Star Lite News
  • Home
  • News
    • All
    • Business
    Public Holidays

    Nigerian Government Urges Peace and Unity as Muslims Mark Prophet Muhammad’s Birthday

    Natasha Akpoti-Uduaghan

    “My Suspension Was Fraudulent” – Natasha Akpoti-Uduaghan Challenges Akpabio, Denied Access to NASS

    SunTrust Bank

    $12M Money Laundering Trial: SunTrust Bank MD Halima Buba, Executive Face EFCC Witness Testimony in Court

    Buhari

    National Tribute: Public Holiday Declared in Memory of Buhari’s Service to Nigeria

    Okpebholo

    Governor Okpebolo Floors PDP At The Supreme Court

    NYSC

    NYSC Sanctions Corps Member Raye Over Criticism of President Tinubu, Sparks Outrage

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Bela.

    Bela.’s Biography, Wikipedia, Age, Career, Family, and Music

    JaceBen

    Jason Benson: Profile of Nigeria’s Emerging Afrobeats Star

    officialJaceBen

    OfficialJaceBen ft Bela. – “PRESSURE” Lyrics

    Chief Kanran

    Legendary Actor Segun Remi, Aka Chief Kanran, Passes On

    Tom Njemanze

    Nollywood Loses Another Legend: Tom Njemanze Passes Away

    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    Public Holidays

    Nigerian Government Urges Peace and Unity as Muslims Mark Prophet Muhammad’s Birthday

    Natasha Akpoti-Uduaghan

    “My Suspension Was Fraudulent” – Natasha Akpoti-Uduaghan Challenges Akpabio, Denied Access to NASS

    SunTrust Bank

    $12M Money Laundering Trial: SunTrust Bank MD Halima Buba, Executive Face EFCC Witness Testimony in Court

    Buhari

    National Tribute: Public Holiday Declared in Memory of Buhari’s Service to Nigeria

    Okpebholo

    Governor Okpebolo Floors PDP At The Supreme Court

    NYSC

    NYSC Sanctions Corps Member Raye Over Criticism of President Tinubu, Sparks Outrage

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Bela.

    Bela.’s Biography, Wikipedia, Age, Career, Family, and Music

    JaceBen

    Jason Benson: Profile of Nigeria’s Emerging Afrobeats Star

    officialJaceBen

    OfficialJaceBen ft Bela. – “PRESSURE” Lyrics

    Chief Kanran

    Legendary Actor Segun Remi, Aka Chief Kanran, Passes On

    Tom Njemanze

    Nollywood Loses Another Legend: Tom Njemanze Passes Away

    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Business

INCREASE IN PUMP PRICE NOT FROM US- DANGOTE

starliteadmin by starliteadmin
January 19, 2025
in Business
0
Dangote Refinery
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

We wish to clarify that the recent adjustment in our ex-depot price of Premium Motor Spirit (Petrol) is directly related to the significant increase in global crude oil prices. As crude remains the primary input in the production of PMS, any fluctuation in its international price inevitably impacts the cost of the finished product.

At Dangote Petroleum Refinery, we recognise the critical importance of affordable fuel for all Nigerians, and we remain committed to offering the best value with guaranteed quality to our customers. While we have made a 5% adjustment to our ex-depot price from N899.50 to N950 per litre, it is important to note that this increase is considerably lower than the 15% rise in global crude oil prices, which has seen Brent Crude rise from $70 to $82 in a matter of days, in addition to the premium for Nigerian crude (approximately $3 per barrel) in international markets. Furthermore, Dangote Refinery has maintained the Single-Point Mooring (SPM) ex-vessel price at N895 per litre.

All our partners, including Ardova, Heyden, and MRS Holdings, will offer petrol to Nigerians at a retail price of N970 per litre nationwide. We have absorbed the increased logistics costs to guarantee uniform pricing across the 36 states of the federation and the Federal Capital Territory (FCT).

Dangote Refinery has absorbed approximately 50% of the cost increases in the international oil market. This is due to our unwavering commitment to quality and affordability, as well as the ownership of the refinery by Nigerians, which remain central to our mission. If Dangote Refinery were to pass on the entire increase in the price of crude oil to the market, the retail price of PMS would be approximately N1,150 to N1,200 per litre in some locations, compared to the current price of N970 per litre.

We are committed to providing reliable, top-quality petrol to the Nigerian people at competitive prices. In these challenging times, we continue to prioritise the best interests of Nigerians, striving to shield consumers from the full impact of global price volatility while adapting to evolving market conditions.

We sincerely appreciate the continued trust and support of Nigerians as we strive to deliver the best value for their money and contribute to the development of a self-sufficient economy that is resilient to international price fluctuations.

In the interest of transparency and good governance, Dangote Refinery will commence publishing its ex-depot price, ex-vessel price as well as pump price on a weekly basis so that consumers are not exploited.

We would like to express our gratitude to President Bola Ahmed Tinubu for the introduction of the visionary Naira for Crude Initiative. This groundbreaking initiative has enabled consistent access to high-quality PMS for all Nigerians, while also insulating the Nigerian consumers from the volatility of the global oil market.

Tags: ArdovaDangote Petroleum RefineryHeydenMRS HoldingsNaira for Crude InitiativePetrolPremium Motor SpiritPresident Bola Ahmed TinubuStarlitenews
Previous Post

Ecobank Partners with CreditCorp to Offer Affordable Financing to Customers

Next Post

Dangote Petroleum Refinery Awards Scholarships To 473 Students

starliteadmin

starliteadmin

Related Posts

Dangote Cement

Dangote Cement Obajana, Jakura Community, Seal Landmark Dev’t Pact

by starliteadmin
September 17, 2025
0

There were jubilations on Wednesday Sept 17, 2025, as Dangote Cement Plc, Obajana Plant, and the Jakura Community sealed an...

Hilda Baci

Hilda Baci Sets New Guinness World Record for Largest Pot of Jollof Rice

by starliteadmin
September 15, 2025
0

Guinness World Records, GWR, has officially confirmed Nigerian chef Hilda Baci’s new record of cooking the largest pot of jollof...

Dangote Refinery

“We like Greek gifts,” Nigerians blast NUPENG over Dangote’s fuel price reductions

by starliteadmin
September 13, 2025
0

The decision of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to warn Nigerians against accepting Dangote Refinery’s...

Dangote l Refinery

Dangote Refinery Responds to NUPENG Allegations, Reaffirms Commitment to Labour Rights, Economic Development

by starliteadmin
September 12, 2025
0

Dangote Petroleum Refinery has dismissed recent allegations made by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), insisting...

Dangote Cement

Dangote Cement pays over N3.3 trillion in dividends to shareholders in 15 years

by starliteadmin
September 11, 2025
0

Shareholders of Dangote Cement Plc have received over N3.3 billion in dividends over the last 15 years. Aside from this...

Dangote Refinery

CNG Trucks: Netizens Back Dangote, Snub NUPENG’s Threat

by starliteadmin
September 8, 2025
0

Nigerians on social media have rallied behind the Dangote Petroleum Refinery in the wake of opposition from the Nigeria Union...

Next Post
Dangote Refinery

Dangote Petroleum Refinery Awards Scholarships To 473 Students

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • Tinubu and Timothy

    Prince Chukwudi Timothy Appeals For Dialogue Instead Of Nationwide Protest

    0 shares
    Share 0 Tweet 0
  • Peter Obi says victory of Christ the King College at World Affairs Challenge heartwarming

    0 shares
    Share 0 Tweet 0
  • Family reveals Ifeanyi Ubah’s burial date

    0 shares
    Share 0 Tweet 0
  • ACEACRES24: Akmodel MD Makes Presentations At The 2Days Event (Photos)

    0 shares
    Share 0 Tweet 0
  • Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Fidelity Bank Extends GAIM 6 Promo
  • Dangote Cement Obajana, Jakura Community, Seal Landmark Dev’t Pact
  • Melissa Kariuki to Speak at WTO Public Forum Alongside Dr. Ngozi Okonjo-Iweala and Leaders from the UN, Amazon, PayPal, and IBM
  • Niteon Launches First African Manufacturers Bank to Unlock $200B Digital Export Market
  • 10,000 New Drivers and Partners to Join LagRide This Ember Season Through Nigeria’s Leading Car Leasing Programme and Academy Training
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

  • https://starlitenews.com.ng/2024/08/20/union-bank-reports-20-growth-in-pbt-h1-2024-despite-cbns-intervention/
  • https://starlitenews.com.ng/2024/07/17/dangote-commends-nuprc-for-publishing-domestic-crude-supply-obligation-guidelines/
  • https://starlitenews.com.ng/2024/05/30/aigboje-aig-imoukhuede-honoured-with-african-banker-lifetime-achievement-award/
  • https://starlitenews.com.ng/2024/07/28/akmodel-group-md-calls-for-peace-and-calm-concerning-the-proposed-nationwide-protest/
  • https://starlitenews.com.ng/2024/09/19/ecobank-and-estars-partner-to-develop-esports-skills-in-nigerian-youth/