Dangote Refinery raises petrol prices to N1,245 amid global market pressures By Eboselume
Dangote Petroleum Refinery has announced an increase in the ex-depot price of Premium Motor Spirit (petrol), citing escalating global geopolitical tensions as the driving factor.
In a notice to petroleum marketers on Friday, the refinery confirmed that the ex-depot (gantry) price of petrol has been raised from N1,175 per litre to N1,245 per litre, while the coastal price increased from N1,512,648 per metric tonne to N1,606,518 per metric tonne.
The refinery stated that the revised pricing will take effect from 12:00 a.m. on March 21, 2026, applying to all new and pending product loadings.
Marketers with existing supply arrangements supported by bank guarantees are permitted to lift products under prior approvals, provided the credit balance covers the price differential.
The refinery further clarified that any cost difference resulting from the adjustment will be recovered from marketers, who are required to submit evidence of payment by March 23, 2026.
This revision reflects the current global geopolitical situation and its impact on crude oil prices and supply chains,” the refinery said in the notice, explaining the necessity of the price adjustment.
The ex-depot price increase is expected to affect downstream pricing, with pump prices likely to rise as marketers pass on the additional costs to consumers.
