The Dangote Petroleum Refinery has increased the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, to ₦1,175 per litre with immediate effect, reversing a ₦100 reduction announced just days earlier.
The latest adjustment, communicated to marketers and depot owners on March 13, 2026, comes after the refinery had lowered the ex-depot price from ₦1,175 to ₦1,075 per litre on March 10, 2026. Following that reduction, depot operators across the country adjusted their pump prices to an average of around ₦1,100 per litre.
Follow DDNewsOnline on Facebook For More Breaking News
However, the sudden upward review has triggered a temporary suspension of sales by major depot operators in several locations, including Lagos, Ogun, Rivers, Kano and Abuja, as they recalibrate pricing to avoid incurring losses.
Industry sources confirmed to DDNewsOnline that many depots have halted loading and sales pending clarity on the new pricing structure and to prevent selling below replacement cost.
Follow And Like Us On Tiktok
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) and other marketer groups described the back-and-forth pricing as disruptive, urging Dangote Refinery to adopt more predictable and consultative pricing mechanisms.
Motorists and transport unions have expressed frustration over the uncertainty, with many stations already rationing fuel or displaying “No Product” signs. and Energy experts attribute the frequent adjustments to volatility in global crude prices, naira-dollar exchange rate fluctuations, and Dangote’s efforts to remain competitive while covering production costs.
For Breaking News And More Follow Us On Instagram
Subscribe To The Best Team In Conservative, Business, Technology, Lifestyle And Digital News Realtime! support@ddnewsonline.com
Dangote Group has not issued a public statement explaining the latest increase as of press time, but sources close to the refinery indicate it is linked to recent movements in international crude benchmarks and freight costs amid ongoing Middle East tensions.
The development comes less than a week after the refinery ramped up daily output to approximately 650,000 barrels, with plans to double capacity within three years.
Follow Us On Youtube
DDNewsOnline is monitoring the situation and will provide updates on when sales resume and any new pump price adjustments by marketers.
DDNewsOnline – Lagos
By Ogungbayi Beedee Adeyemi
Send tips to: adeyemi@ddnewsonline.com
09164987165 / 08168555497