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| Dangote Refinery |
The Dangote Petroleum Refinery has increased its ex-depot (gantry) price for Premium Motor Spirit (petrol) from ₦774 to ₦875 per litre, a move likely to feed into higher pump prices for Nigerian motorists in the coming days.
A senior refinery official said the upward review, which came amid rising global crude oil costs and market volatility, reflects changing replacement and operational costs. Industry checks show the updated price has already been reflected on industry pricing platforms, signalling a shift in pricing benchmarks nationwide.
Energy analysts warn that if international crude prices already stirred by geopolitical tensions continue to climb, retail petrol prices across Nigeria could approach or breach the ₦1,000 per litre mark in some regions, especially once downstream marketers adjust their pricing to align with the new gantry rate and replacement costs.
The latest review follows a brief suspension in petrol loading at the refinery against a backdrop of persistent crude market volatility, with industry sources saying several private depot owners paused petrol sales as they awaited clearer pricing direction.
The development comes as Nigerians already contend with widely varying fuel prices in major cities typically ranging between around ₦824 and ₦880 per litre prior to the new adjustment and will likely contribute to broader concern over rising transportation and living costs.
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