BREAKING: Dangote Refinery Raises Petrol Price to N875 Per Litre

The Dangote Petroleum Refinery has increased its Premium Motor Spirit (PMS) gantry price by N101, raising the ex-depot rate from N774 to N875 per litre.

The new pricing, which took effect on Monday, is expected to spark fresh concerns over a possible rise in pump prices nationwide as marketers adjust to the revised benchmark.

A senior official of the refinery confirmed that the adjustment followed recent volatility in global crude oil prices. According to the official, changes in international crude fundamentals and rising replacement costs made the review necessary.

Industry sources indicated that the updated rate has already been reflected on downstream pricing platforms, signalling an immediate impact on product lifting and depot transactions.

The development comes shortly after the refinery suspended petrol loading operations effective midnight on March 2, 2026, amid a surge in global crude prices, which reportedly climbed above $80 per barrel.

Data from industry trackers showed that PMS loading halted at exactly midnight, with the issuance of Proforma Invoices temporarily paused. However, Automotive Gas Oil (diesel) loading operations were said to have continued without disruption.

The situation also prompted several private depot owners to suspend petrol sales during the trading day to avoid selling below replacement cost in a volatile market environment.

Energy analysts have warned that sustained geopolitical tensions  particularly in the Middle East  could drive crude oil prices even higher.

Should crude exceed the $90 per barrel mark, experts say Nigeria may witness further increases in petrol and diesel prices despite the country’s growing local refining capacity.

Stakeholders across the downstream sector are closely monitoring global oil market trends and domestic supply dynamics as the situation unfolds.