Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (petrol) to ₦1,350 per litre, up from ₦1,275, marking a fresh upward adjustment in Nigeria’s downstream fuel market.
The ₦75 increase—its second within a week—was confirmed by market sources, with reports indicating that Proforma Invoice issuance was suspended on Tuesday to reflect the new pricing template across loading channels.
Industry operators say the adjustment is expected to translate into higher pump prices in the coming days, particularly in major consumption centres, as marketers recalibrate depot and retail pricing to reflect increased costs.
The latest hike comes amid sustained pressure in the global oil market and ongoing supply-side adjustments within Nigeria’s fuel distribution chain. These factors continue to influence ex-depot pricing decisions, especially as operators grapple with higher landing and replacement costs.
Global crude prices have shown signs of volatility, with West Texas Intermediate briefly dipping below $100 per barrel following renewed optimism around a possible resolution to tensions involving Iran and the potential reopening of the Strait of Hormuz.
Despite the dip in international oil prices, domestic pricing dynamics remain influenced by foreign exchange fluctuations, crude sourcing costs, and logistics challenges within the supply chain.
The development comes barely a week after the refinery raised its ex-depot price from ₦1,200 to ₦1,275 per litre, underscoring the rapid pace of adjustments and the refinery’s growing influence on Nigeria’s fuel pricing structure.
Over the past month, Dangote Refinery has implemented multiple price changes, reflecting shifting market realities and reinforcing its central role in shaping downstream petroleum pricing in Nigeria.
