Dangote Refinery Raises Petrol Price to ₦1,350/Litre

Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦1,350 per litre, marking a fresh hike in Nigeria’s downstream fuel market.

The new price represents a ₦75 increase from the previous ₦1,275 per litre, according to industry sources cited in a report by Channels Television.

Market data from Petroleumprice.ng indicated that the updated pricing template has already taken effect, with the suspension of proforma invoices on Tuesday signalling a uniform adjustment across loading depots. Marketers have begun recalibrating their pricing structures in response to the development.

Industry operators say the latest increase is expected to push pump prices higher in the coming days, particularly in major consumption centres, as retailers adjust to rising landing and replacement costs.

The adjustment comes amid continued volatility in the global oil market and supply-side shifts within Nigeria’s domestic distribution chain—factors that have increasingly influenced ex-depot pricing decisions.

Despite a recent dip in global crude prices, including a decline in West Texas Intermediate, the local market has remained under pressure due to foreign exchange constraints and logistics costs.

The latest hike comes barely a week after the refinery raised its ex-depot price from ₦1,200 to ₦1,275 per litre, underscoring the rapid pace of price adjustments. It is also the second ₦75 increase within seven days.

Over the past month, Dangote Refinery has revised petrol prices multiple times, reflecting fluctuations in crude sourcing costs, currency pressures, and evolving domestic supply dynamics.

Analysts say the refinery’s growing role in local fuel supply continues to shape pricing trends, with broader implications for inflation and consumer spending across the country.