Again, Dangote Refinery Increases Petrol Price

Again, Dangote Refinery Increases Petrol Price

  • Business
  • March 21, 2026
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The Dangote Refinery has announced another upward adjustment in the price of Premium Motor Spirit (PMS), raising its gantry price from ₦1,175 to ₦1,245 per litre—an increase of ₦70.

The new price takes effect from 12:00 a.m. on March 21, 2026, and will apply to all outstanding and yet-to-be-loaded product volumes.

In addition to the hike in gantry price, the refinery also reviewed its coastal supply rate, increasing it from ₦1,512,648 to ₦1,606,518 per metric tonne, further signaling rising costs across the supply chain.

According to the company, the adjustment is driven by persistent global geopolitical tensions, which continue to impact crude oil prices and international energy markets.

The refinery, however, noted that customers with valid Bank Guarantees can continue loading products under their existing agreements. Such customers are required to pay the price differential resulting from the adjustment.

It emphasized that all outstanding differential payments must be settled on or before March 23, 2026.

The latest increase is expected to have a ripple effect on pump prices nationwide, raising concerns among consumers and businesses already grappling with high transportation and living costs.

Industry observers say the development underscores the vulnerability of local fuel pricing to global market forces, despite ongoing efforts to boost domestic refining capacity.