Dangote Refinery has increased the ex-depot price of Premium Motor Spirit, popularly known as petrol, by N75 per litre.

The latest adjustment, announced on Wednesday, raised the product’s price from N1,200 to N1,275 per litre, while the coastal price was also reviewed upward to N1,215 per litre.

The new pricing represents a 3.15 per cent increase and comes amid a fresh surge in global crude oil prices.

Market data showed that Brent Crude climbed to about $114.80 per barrel, while West Texas Intermediate rose to around $103 per barrel during trading on Wednesday.

The development is expected to trigger concerns among marketers and consumers, as changes in ex-depot prices often influence pump prices across the country.

Industry observers said the increase could further strain households and businesses already grappling with rising transportation and energy costs.