THE Dangote Petroleum Refinery has raised the depot price of petrol for the fourth time in just over a week, increasing the gantry price of Premium Motor Spirit (PMS) to ₦1,175 per litre amid mounting pressure in Nigeria’s downstream petroleum market.
News Point Nigeria reports that the refinery also adjusted the price of Automotive Gas Oil (AGO), commonly known as diesel, raising it to ₦1,620 per litre.
Industry sources confirmed that the revised pricing template has been communicated to fuel marketers and distributors across the country following multiple adjustments that began earlier in March.
The latest revision marks the fourth price increase since March 2, signaling growing volatility in Nigeria’s domestic fuel market.
Under the new pricing structure, petrol now sells at ₦1,175 per litre at the refinery depot, representing a sharp rise from the ₦995 per litre previously charged.
Similarly, diesel prices increased significantly from ₦1,430 per litre to ₦1,620 per litre, further reinforcing the upward trend in domestic fuel costs.
The rapid succession of price adjustments within a short period has heightened concerns among industry stakeholders and consumers about the stability of fuel prices in the country.
The price revision followed a brief disruption in the refinery’s loading operations.
Market participants had earlier reported that the refinery temporarily suspended petrol loading activities and restricted truck-out operations, which triggered speculation within the downstream sector about an imminent price adjustment.
The suspension created uncertainty among depot operators and fuel marketers who rely heavily on supply from the refinery.
When operations resumed, the new price template was issued, confirming the anticipated increase.
As of around 1:00pm, the global benchmark Brent Crude was trading at approximately $102.8 per barrel, representing an increase of about 10.9 percent.
Market participants say pricing decisions by the Dangote refinery often influence fuel prices across Nigeria’s downstream sector.
As one of the largest refining facilities in Africa, the refinery’s depot prices typically serve as a benchmark for many fuel distribution hubs nationwide.
Consequently, marketers and depot operators are expected to adjust their own prices in response to the new gantry rates.