Dangote Refinery has raised its ex-depot price of Premium Motor Spirit (petrol) to ₦1,350 per litre, up from ₦1,275, marking a fresh increase in Nigeria’s downstream fuel market.
The latest adjustment was confirmed in a report by Petroleumprice.ng, which cited market sources. It stated that a revised pricing template had taken effect, with Proforma Invoice suspended on Tuesday—an indication of new loading prices across depots. Marketers have since begun adjusting their depot and retail pricing structures in response.
Industry operators say the increase is likely to translate into higher pump prices in the coming days, particularly in major consumption centres, as fuel dealers respond to rising replacement and landing costs.
The ₦75 hike comes amid ongoing volatility in global crude markets and continued shifts in domestic supply dynamics that influence ex-depot pricing decisions.
Globally, oil prices fell about four percent on Tuesday and extended losses on Wednesday, with West Texas Intermediate briefly slipping below $100 per barrel, driven by expectations of easing geopolitical tensions and potential reopening of key shipping routes such as the Strait of Hormuz.
The latest adjustment follows a similar ₦75 increase just a week earlier, when the refinery raised its ex-depot price from ₦1,200 to ₦1,275 per litre. The back-to-back hikes highlight the fast-moving nature of pricing in the downstream sector and the refinery’s growing influence on Nigeria’s fuel market.
It also marks the second price increase within seven days.
Over the past month, Dangote Refinery has revised petrol prices several times, reflecting fluctuations in crude oil costs, foreign exchange pressures, and adjustments within the domestic distribution chain.
