The Dangote Petroleum Refinery has announced an upward revision in the ex‑depot price of Premium Motor Spirit (PMS), also known as petrol, setting the new rate at ₦1,175 per litre.
The adjustment was communicated to petroleum marketers and depot operators on Monday, March 9, 2026, marking the third price increase in less than a week.
The refinery’s latest pricing move comes against a backdrop of volatile global crude oil markets and shifting domestic supply conditions.
Within a short timeframe, the ex‑depot petrol price has climbed sharply from levels below ₦800 per litre earlier in the month.
The previous benchmark of ₦995 per litre on Friday, March 6, 2026, has now been overtaken by the revised ₦1,175 rate.
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Market observers said the ex‑depot price serves as a baseline for downstream marketers and transporters, who add distribution costs and margins before petrol reaches retail outlets.
As a result, final pump prices are expected to be higher than the refinery’s gantry price, with many retail stations already reflecting elevated pricing.
The refinery, located in the Lekki Free Trade Zone in Lagos, is one of Africa’s largest private refining facilities and a central player in Nigeria’s strategy to strengthen domestic fuel production and reduce reliance on imported petrol. Despite this, its pricing remains exposed to international oil cost trends, analysts noted.
Industry stakeholders have expressed concerns that sustained increases in the ex‑depot price could exert upward pressure on transportation costs and the prices of goods and services across the country.
The new petrol price structure is effective immediately at the refinery level, and downstream operators are reviewing their own pricing frameworks in response to the adjustment.
Further revisions could follow if global or domestic market conditions evolve.