Dangote refinery raises petrol ex-depot price to ₦1,175 per litre

The Dangote Petroleum Refinery has increased the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦1,175 per litre, prompting several depot operators to temporarily suspend sales.

The latest price adjustment comes only days after the refinery had reduced the ex-depot price by ₦100 to ₦1,075 per litre on March 10, 2026, from the previous ₦1,175 per litre.

Following that reduction, many depot owners adjusted their selling price to an average of about ₦1,100 per litre. However, the sudden upward review forced operators to halt transactions to avoid losses while they reassess their pricing.

Industry sources also revealed that loading activities at the refinery were briefly paused to allow for stock reconciliation and to align operations with the new pricing structure.

The increase is linked to the recent rise in global crude oil prices. International benchmark Brent crude reportedly climbed from about $91 to nearly $100 per barrel, significantly increasing refining costs.

Typically, higher crude oil prices lead to increased production costs for refiners, which then affect the ex-depot price of petroleum products.

Analysts warn that if the upward trend in crude prices continues, retail pump prices of petrol across Nigeria may experience further increases in the coming weeks.