The Dangote Petroleum Refinery has implemented yet another increase in its ex-depot price for Premium Motor Spirit (petrol), pushing the rate to ₦1,175 per litre.
This marks the third price adjustment within a single week, reflecting ongoing turbulence in global crude oil markets.
A senior official from the refinery, speaking on condition of anonymity, confirmed that the new gantry price for petrol now stands at ₦1,175 per litre, while diesel (Automotive Gas Oil) has been revised to ₦1,620 per litre. The updated prices were officially communicated to petroleum marketers and depot operators on Monday, March 9, 2026, and became effective immediately.
This latest hike follows closely on the heels of two prior increases: petrol moved from ₦774 per litre to approximately ₦874–₦875, then rose again to ₦995 just days ago. In total, the ex-depot price has climbed sharply from ₦774 in a very short timeframe.
The refinery cited “extreme market volatility” and “significant shifts in replacement costs in recent days” as the primary drivers behind the adjustment. “The market has been extremely volatile, and replacement costs have shifted significantly in recent days,” the official stated, emphasizing that the changes align with current market realities and operating cost pressures.
The repeated upward revisions are widely expected to translate into higher pump prices at retail filling stations across Nigeria. Many stations already sell petrol above ₦1,000 per litre, some as high as ₦1,200 and this new increase is likely to push retail prices even further upward in the coming days.
The knock-on effects are anticipated to intensify inflationary pressures, raising transportation fares, logistics costs, and the overall cost of goods and services for millions of Nigerians already grappling with difficult economic conditions.
The price movements continue despite government-backed efforts, including arrangements by the Nigerian National Petroleum Company Limited (NNPCL) to supply crude oil to the refinery via international third-party traders.
Industry sources, however, suggest these interventions are unlikely to produce immediate relief at the pump.
The developments reflects the persistent difficulties of achieving stable domestic fuel pricing, even with Africa’s largest single-train refinery now operational. Fluctuating global crude prices, geopolitical tensions, and supply-chain dynamics continue to challenge the facility’s goal of reducing Nigeria’s reliance on imported petroleum products and delivering more affordable fuel to consumers.
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