The Dangote Petroleum Refinery has reversed its recent price reduction, raising the ex-depot price for Premium Motor Spirit PMS back to ₦1,175 per litre. The move prompted depot operators nationwide to temporarily halt sales as they reassess stock and pricing strategies.
A refinery source confirmed that the increase comes just days after a ₦100 reduction to ₦1,075 per litre on March 10 2026, which had encouraged depot operators to sell at an average of ₦1,100 per litre. With the new upward adjustment, operators paused sales, while the refinery also temporarily suspended loading operations to reconcile stock levels and align with the revised pricing framework.
The price revision is attributed to a sharp rise in global crude oil prices, with Brent crude climbing from $91 to $100 per barrel, increasing refining costs. Analysts say the volatility reflects ongoing geopolitical tensions in the Middle East, particularly involving the United States, Iran, and Israel.
This marks the latest in a series of petrol price swings at Dangote Refinery, highlighting the impact of global energy markets on domestic fuel supply.
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