Dangote Refinery Raises Petrol Ex-Depot Price to ₦1,350 Amid Supply Pressures
Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (petrol) to ₦1,350 per litre, marking a fresh hike in fuel costs across Nigeria’s downstream sector.
The adjustment, confirmed on Wednesday by a senior refinery official and data from Petroleumprice.ng, represents a ₦75 increase from the previous ₦1,275 per litre. This is the second upward review within one week, underscoring the rapid pace of price changes in the market.
According to insiders, the new gantry price has already been implemented across all loading points, compelling fuel marketers to revise their depot and retail pricing structures in response.
A source familiar with the development explained that the increase is not an isolated move but a reflection of ongoing supply constraints and rising operational costs. “All loading channels have been updated, and marketers are adjusting accordingly. This is a response to prevailing realities in the system,” the source said.
The latest hike comes shortly after an earlier increase from ₦1,200 to ₦1,275 per litre, highlighting continued volatility in fuel pricing as domestic refining expands its role in supply.
Industry sources also pointed to a temporary suspension in the issuance of pro forma invoices earlier in the week, which contributed to a short-term supply shortage and intensified upward pressure on prices.
Despite the consistent increases, a senior official within the Dangote Group recently disclosed that the refinery has been absorbing part of the cost burden by subsidising petrol and diesel supplied to the local market.
Analysts note that factors such as global crude oil price fluctuations, foreign exchange challenges, and logistics expenses are driving the frequent adjustments.
The development signals an ongoing transition in Nigeria’s deregulated fuel market, where local refining is gradually replacing imports but remains sensitive to international market forces.
With the new increase, pump prices are expected to rise nationwide as marketers transfer the added costs to consumers. This is likely to further strain household budgets, with transportation and commodity prices anticipated to climb in response.
