Dangote Refinery has increased its petrol price to N1,245 per litre, the fourth hike in March, citing global geopolitical pressures.
The Dangote Petroleum Refinery has raised the ex-depot price of Premium Motor Spirit (PMS) from N1,175 to N1,245 per litre, citing escalating global geopolitical tensions.
In a notice to marketers on Friday, the refinery said the gantry price increased by N70 per litre, while the coastal price rose from N1,512,648 to N1,606,518 per metric tonne, effective from midnight on March 21, 2026.
“Please be informed that due to the current global geopolitical situation, which has further escalated, the PMS gantry and coastal prices have been reviewed and updated,” the notice stated.
The refinery added that marketers with valid bank guarantees could continue lifting products under existing approvals, while the price change differential would be recovered. The adjustment is expected to raise pump prices as marketers pass the cost to consumers.
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