Dangote Refinery Raises Petrol Price to ₦1,350

Dangote Refinery has raised the ex-depot price of Premium Motor Spirit, also known as petrol, to ₦1,350 per litre.

The new price represents a ₦75 increase from the previous ₦1,275 per litre. It also marks the second ₦75 increase in about one week, after the refinery recently moved its price from ₦1,200 to ₦1,275 per litre.

A senior official of the refinery confirmed that the new gantry price has taken effect across all loading points. This means marketers buying directly from the refinery will now have to adjust their own depot and pump price calculations.

According to the official, the new pricing template has already been activated, and marketers are responding to the change.

The latest hike comes at a time when fuel supply remains tight in parts of the downstream market. Earlier in the week, the refinery reportedly paused the issuance of pro forma invoices, a move market players say reduced product access and added more pressure on prices.

Industry sources also linked the price adjustment to crude oil costs, foreign exchange pressure, logistics expenses, and changing market conditions.

The increase further shows how much influence Dangote Refinery now has on Nigeria’s petrol market. Since the refinery began supplying the local market in larger volumes, its price changes have become a major signal for marketers, depot owners, and filling stations across the country.

Although local refining was expected to reduce Nigeria’s dependence on imported fuel, petrol prices remain tied to global oil prices and exchange rate movements. This means domestic production alone may not guarantee stable or lower prices, especially in a deregulated market.

A senior Dangote Group official had earlier said the refinery had been subsidising petrol and diesel sold to the Nigerian market. However, the latest increase suggests that market realities are still forcing price adjustments.

The new price is expected to affect pump prices nationwide as marketers pass the additional cost to consumers.

For many Nigerians, the bigger worry is not just the refinery’s price change. It is the effect on transport fares, food prices, and the general cost of living at a time when households are already under pressure from inflation.