Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (petrol) from N1,275 to N1,350 per litre. The new increase marks a fresh upward adjustment in Nigeria’s downstream fuel market.
Quoting market sources, a report by Petroleumprice.ng said the new pricing template had been confirmed, and Proforma Invoice had been suspended, indicating a new price across loading channels, with marketers already recalibrating their depot and retail positions in response to the change.
Industry operators say the latest hike is expected to feed directly into pump prices in the coming days, especially across key consumption centres, as marketers adjust to higher landing and replacement costs.
The N75 increase comes amid sustained pressure in the global oil market and ongoing supply-side adjustments within the domestic distribution chain, factors that continue to influence ex-depot pricing decisions.
Oil prices sank around four per cent Tuesday, and on Wednesday they continued to fall, with West Texas Intermediate briefly dipping below $100 a barrel, on fresh hopes for an end to the Iran war and the reopening of the Strait of Hormuz.
The price increase comes barely a week after Dangote Refinery raised its ex-depot price from N1,200 to N1,275 per litre, highlighting the rapid pace of adjustments in the downstream market and the refinery’s growing influence on domestic fuel pricing.
It is also the second N75 increase within seven days. Within the past month, Dangote Refinery has adjusted its petrol prices multiple times, reflecting changes in crude sourcing costs, foreign exchange pressures, and domestic distribution dynamics.
