The Dangote Petroleum Refinery has once again raised the ex-depot price of Premium Motor Spirit (PMS), popularly called petrol, to N1,275 per litre. This marks the fifth increase in just three weeks.
The new price is N100 higher than the N1,175 per litre sold earlier this month, representing an 8.5 per cent jump. It also comes just hours after a N30 increase from the N1,245 per litre announced on Friday night.
In a notice to its customers and marketers on Saturday, the refinery said the new price takes effect immediately.
The notice read, “Dear Valued Customer, kindly note that the prices contained in our previous correspondence are no longer applicable and should be disregarded.
“Please find below the current DPRP PMS gantry and coastal prices. The refinery increased its coastal price from N1,512,648 to N1,646,748 per metric tonne, while the gantry price rose from N1,175 to N1,275 per litre.”
The company emphasized that the revised prices apply immediately.
“Please note that the revised price will apply to all unloaded gantry and coastal volumes and is effective from 12am on the 21st of March 2026,” it added.
The refinery also explained that customers with existing credit arrangements would still be served, provided they cover the price difference.
“For customers with a valid Bank Guarantee with DPRP, loading will continue with existing ATCs/PRN (if any) provided the BG credit balance covers the price change differential,” the company stated.
The speed of these price changes in a single day highlights the strong pressure currently affecting the fuel market.
The hike shows that Nigeria’s petrol market remains vulnerable to international crude oil price swings and supply chain issues, despite the Dangote refinery being expected to stabilise domestic supply.
Records show the refinery has made several price increases in March, reflecting rising global crude oil costs and exchange rate fluctuations.
At the start of March, petrol from the refinery sold at about ₦774 per litre. Less than three weeks later, the price jumped to ₦1,275 per litre—a rise of more than 60 per cent.
