Dangote Refinery has raised its petrol ex-depot price to ₦875 per litre following a surge in global crude oil prices, fueling concerns of further increases nationwide.
The Dangote Petroleum Refinery has increased its Premium Motor Spirit (PMS) ex-depot price from ₦774 to ₦875 per litre, marking a ₦101 hike amid rising global crude oil prices. A senior refinery official said the adjustment was driven by volatility in international oil markets and higher replacement costs, with the new rate already reflected on industry pricing platforms.
The development followed the temporary suspension of petrol loading operations at midnight on March 2, 2026, as crude prices surged past $80 per barrel. While diesel loading continued, several private depot owners reportedly halted PMS sales, citing concerns over selling below replacement cost. Energy experts have warned that further increases in fuel prices could occur if crude oil climbs above $90 per barrel amid ongoing geopolitical tensions.