Dangote refinery raises petrol price again

Dangote Refinery has increased its ex-depot price of Premium Motor Spirit to N1,350 per litre, marking another upward adjustment in Nigeria’s downstream petroleum market.

The latest increase was confirmed on Wednesday by a senior official of the privately-owned petroleum products refinery.

It was also confirmed by pricing platform: petroleumprice.ng.

The increase represents a N75 rise from the previous N1,275 per litre.

The adjustment comes barely a week after the refinery raised its ex-depot price from N1,200 to N1,275 per litre, reinforcing the rapid pace of price movements in the deregulated fuel market.

Industry sources said the new gantry price had been implemented across all loading channels, prompting marketers to review their pricing templates amid supply constraints and rising operational costs.

A senior official familiar with the development said: “The new pricing template has been activated across the board.

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“All loading points have been updated, and marketers are already responding by adjusting their depot prices.

“This is not an isolated change; it reflects prevailing supply and cost pressures in the system.”

The latest adjustment is the second N75 increase within seven days.

The increase also follows a temporary suspension in the issuance of pro forma invoices earlier this week, a development market operators said contributed to product shortages and higher prices across the supply chain.

The official said: “The suspension of PFI created a short-term supply squeeze. When you combine that with international crude price movements and logistics costs, it becomes inevitable that depot prices will adjust upward.

“What we are seeing is a direct market response to those realities.”

Despite the recent increases, a senior management official of the Dangote Group had disclosed that the refinery was still subsidising the petrol and diesel supplied to the Nigerian market.

Within the past month, the refinery has adjusted petrol prices several times in response to crude sourcing costs, foreign exchange pressures and domestic distribution challenges.

The development highlights the refinery’s growing influence on local fuel supply and pricing as Nigeria’s market continues its transition from import dependence to domestic refining.

The latest increase is expected to trigger higher pump prices nationwide as marketers transfer the added costs to consumers already facing rising inflation and transportation expenses. 

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