The Dangote Petroleum Refinery has once again adjusted its ex-depot price for Premium Motor Spirit (PMS), also known as petrol, to ₦1,175 per litre.
This latest increase has led many depot owners and marketers across Nigeria to temporarily suspend petrol sales as they reassess their pricing strategies.
The move follows a brief reduction on March 10, 2026, when the refinery lowered the gantry price by ₦100 to ₦1,075 per litre from the previous ₦1,175. That earlier cut allowed some depot operators to begin selling at around ₦1,100 per litre.
However, with the refinery's quick reversal to the higher price, these operators paused transactions to avoid losses on inventory purchased at lower replacement costs.Industry sources indicate that the refinery has also temporarily suspended loading operations at its facility.
This pause allows for stock reconciliation and alignment with the revised pricing structure amid volatile market conditions.The price fluctuation is largely attributed to surging global crude oil prices. Brent crude recently climbed from around $91 to $100 per barrel (with some reports noting peaks above $100), driven by geopolitical tensions and supply concerns.
These international benchmarks directly impact refining costs for Dangote, which sources crude at global-linked prices despite domestic production efforts.
This back-and-forth pricing has created uncertainty in Nigeria's downstream petroleum sector, where marketers and consumers closely monitor ex-depot rates for ripple effects on pump prices nationwide.
Further adjustments could follow depending on crude oil market trends.
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