Dangote Refinery has effected another upward price adjustment, raising its ex-depot price of Premium Motor Spirit to N1,350 per litre, a N75 increase from the previous N1,275 per litre.
The latest adjustment, confirmed on Wednesday by a senior official of Dangote Refinery and pricing platform Petroleumprice.ng, reinforces a pattern of frequent price recalibrations that has defined the market in recent weeks.
The official said the new gantry price has been implemented across all loading channels, forcing marketers to immediately adjust their pricing templates amid tight supply conditions and shifting cost realities.
“This is not an isolated change; it reflects prevailing supply and cost pressures in the system,” the official said.
The price increase comes barely a week after the refinery raised its ex-depot price from N1,200 to N1,275 per litre, marking the second N75 increase within seven days.
Despite these upward revisions, a senior management official of the Dangote Group recently revealed that the refinery has been subsidising the petrol and diesel it sells to the Nigerian market.
The fresh increase also comes against the backdrop of a temporary halt in the issuance of pro forma invoices earlier this week, a development that market players say further constrained product availability and intensified upward price movements.
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. The hike underscores a broader trend of sustained price volatility linked to the refinery’s evolving pricing strategy since it began dominating local supply.
The increase is expected to cascade into higher pump prices across the country, as marketers pass on additional costs to consumers already grappling with inflation and high transportation expenses.
