Barely hours after announcing an earlier upward review, the Dangote Petroleum Refinery has again increased its ex-depot price of Premium Motor Spirit (petrol) to N1,275 per litre, highlighting ongoing instability in Nigeria’s deregulated downstream oil sector.
The new price reflects a N100 increase from the N1,175 per litre recorded earlier in March an 8.5 per cent rise. It also represents an additional N30 jump from the N1,245 per litre adjustment communicated late Friday.
In a fresh notice to marketers and customers issued on Saturday, the refinery stated that its previous pricing template had been withdrawn and should no longer be referenced.
“Dear Valued Customer, kindly note that the prices contained in our previous correspondence are no longer applicable and should be disregarded,” the notice read.
It added, “Please find below the current DPRP PMS gantry and coastal prices. The refinery increased its coastal price from N1,512,648 to N1,646,748 per metric tonne, while the gantry price rose from N1,175 to N1,275 per litre.”
According to the company, the revised pricing took effect from midnight on March 21, 2026, and applies to all pending and future transactions, including both gantry and coastal supplies.
However, customers operating under existing credit arrangements were assured of continued access to products, provided they cover the price differential. “For customers with a valid Bank Guarantee with DPRP, loading will continue with existing ATCs/PRN (if any) provided the BG credit balance covers the price change differential,” the refinery explained.
The rapid sequence of price adjustments two within a single day underscores the mounting pressure in the fuel market, driven largely by global oil price fluctuations and supply chain disruptions.
Industry data indicates that the refinery has revised its petrol prices multiple times in March alone. Starting from N774 per litre on March 2, prices moved to N874, then climbed to N1,050, N1,175, N1,245, and now N1,275 per litre. This represents a cumulative increase of N501, or approximately 64.7 per cent, within less than three weeks.
Coastal pricing has followed a similar trajectory, rising to N1,646,748 per metric tonne from N1,512,648, marking an 8.9 per cent increase in the latest review.
Analysts say the persistent hikes reflect the continued exposure of Nigeria’s fuel market to international crude oil trends, despite expectations that the domestic refining capacity of the Dangote Petroleum Refinery would stabilise supply and pricing.
The latest development is expected to translate into higher pump prices nationwide, with likely knock-on effects on transportation costs and the prices of goods and services.
The situation is further compounded by rising global demand pressures, as several African countries including South Africa, Ghana, and Kenya have reportedly shown interest in sourcing products from the refinery. At the same time, ongoing geopolitical tensions disrupting traditional fuel supply routes, particularly from the Middle East, have tightened global availability.
Despite concerns, the refinery maintained that the price adjustments are necessary to reflect prevailing market realities, noting that external factors remain the primary drivers of the changes.
