Dangote Petroleum Refinery has increased its ex-depot price of Premium Motor Spirit to N1,275 per litre, marking the fifth upward review in March and underscoring persistent volatility in Nigeria’s deregulated downstream sector.
The latest adjustment comes barely hours after the refinery announced a previous hike, raising the price from N1,245 per litre by N30, while also reflecting a N100 increase from the N1,175 per litre recorded earlier in the month.
In a notice issued to marketers and customers on Saturday, the company directed stakeholders to disregard its earlier pricing template, noting that a new regime had taken immediate effect.
The notice stated that the revised gantry price rose from N1,175 to N1,275 per litre, while the coastal price increased from N1,512,648 to N1,646,748 per metric tonne.
According to the refinery, the new pricing structure became effective from midnight on March 21, 2026, and applies to all pending and future transactions.
It, however, clarified that customers operating under existing credit arrangements would still be accommodated, provided their bank guarantees cover the difference arising from the price adjustment.
The rapid succession of price hikes within a single day highlights mounting pressure on fuel pricing, largely driven by global crude oil fluctuations and supply chain disruptions.
Findings indicated that the refinery has raised petrol prices five times in March, with the gantry price rising sharply from N774 per litre at the beginning of the month to N1,275, representing a significant increase within a short period.
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