Dangote Refinery has raised its ex‑depot price for Premium Motor Spirit (PMS) to N1,350 per litre, a N75 increase from the previous N1,275 per litre. The adjustment was confirmed on Wednesday by a senior official of the refinery and the pricing platform Petroleumprice.ng.
The new gantry price applies to all loading points, prompting marketers to revise their pricing templates immediately. According to a senior official familiar with the change, “The new pricing template has been activated across the board. All loading points have been updated, and marketers are already responding by adjusting their depot prices. This reflects prevailing supply and cost pressures in the system.”
The increase follows a rise a week earlier when Dangote lifted its ex‑depot price from N1,200 to N1,275 per litre. It marks the second N75 hike within seven days, underscoring the rapid pace of price revisions in Nigeria’s downstream market.
Despite the upward moves, a senior management official of the Dangote Group has indicated that the refinery continues to subsidise the petrol and diesel it supplies domestically. The latest hike also occurs after a temporary suspension of pro‑forma invoice issuance earlier in the week, a measure that market participants say tightened product availability and intensified price pressure. “The suspension of PFI created a short‑term supply squeeze. When you combine that with international crude price movements and logistics costs, it becomes inevitable that depot prices will adjust upward,” the official added.
Over the past month, Dangote Refinery has repeatedly adjusted petrol prices in response to fluctuations in crude sourcing costs, foreign‑exchange pressures, and domestic distribution dynamics. The refinery’s pricing strategy has become a key driver of fuel prices since it began to dominate local supply, replacing imported gasoline. Earlier reductions were made to counter competition and inventory build‑up, but tighter supply and firmer global oil prices soon reversed the trend.
The frequent revisions illustrate a transition in Nigeria’s deregulated fuel market, where domestic refining is taking precedence yet remains vulnerable to international cost variables. Analysts expect the higher depot price to be passed on to consumers at the pump, adding to transportation costs already strained by inflation and high logistics expenses.
For millions of Nigerians, the immediate impact is a higher cost of living, as increased fuel prices are likely to raise transportation fares and the price of goods that depend on road haulage. The situation highlights the broader challenge of stabilising fuel costs while the domestic refining sector expands its role in the national energy mix.
