Dangote Refinery Raises Petrol Price by N75 to N1,275 per Litre

By Margaret Abah

Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, by N75 per litre, raising it from N1,200 to N1,275 per litre.

The latest adjustment, confirmed on Wednesday through industry data and refinery sources, has heightened concerns over a fresh wave of fuel price increases across Nigeria’s downstream petroleum sector.

According to sources, coastal supply prices have also risen to N1,215 per litre, reflecting broader operational and market-driven changes within the refinery’s pricing structure.

A refinery official confirmed the development, stating, “Yes, the increase of PMS to N1,275 per litre is true. Coastal price is N1,215.”

In addition to the price hike, the refinery reportedly suspended its Proforma Invoice (PFI) process around 4:00 pm on Tuesday, disrupting the scheduling of product loading. The move led to a temporary halt in the sale of both petrol and Automotive Gas Oil (diesel), further tightening supply.

Industry operators say the disruption has already sparked reactions among marketers and traders, many of whom are now preparing for increased depot prices and a potential rise in pump prices nationwide.

They warned that such interruptions in supply chains often lead to higher logistics and distribution costs, which are typically passed on to consumers.

The development comes amid a surge in global crude oil prices. As of Wednesday morning, Brent crude was trading at $114.80 per barrel, while West Texas Intermediate (WTI) stood at $103.40 per barrel, both recording notable gains.

Analysts link the rise in crude prices to escalating geopolitical tensions around the Strait of Hormuz, a vital global oil supply route. The increase in feedstock costs has consequently forced refiners to adjust prices upward.

The combined impact of higher crude prices and supply disruptions is expected to intensify pressure on Nigeria’s fuel market in the coming days.