Nigeria’s Dangote Refinery has increased the gantry price of Premium Motor Spirit (PMS) by N100, raising the ex-depot price from N774 to N874 per litre. This adjustment expected to lead to nationwide changes in fuel prices.
A senior official at the Dangote Refinery confirmed the price hike, citing rising global crude oil prices and higher replacement costs as the main reasons.
“Yes, the price has reviewed. The new gantry price is now N874 per litre, up from N774. This revision was necessary due to shifts in global crude fundamentals and increased replacement costs,” the official stated.
The price adjustment comes as international crude oil prices surpassed $80 per barrel. In response, the refinery temporarily halted petrol loading operations starting midnight on March 2, 2026. While this suspension disrupted petrol supply and proforma invoice issuance, diesel production and loading operations remained unaffected.
The updated pricing has already reflected on local fuel monitoring platforms, signaling potential downstream market adjustments. This could result in higher retail petrol prices across the country.
The downstream sector is already feeling the impact. Reports indicate that some private depot operators have paused petrol sales during trading hours, awaiting clearer pricing directives.
In a related development, legal proceedings involving the refinery, the Nigerian National Petroleum Company Limited (NNPC), and other parties over a ₦100 billion lawsuit have adjourned to November 5, 2026. The case centers on regulatory and industry-related disputes.
