The Dangote Petroleum Refinery has increased the gantry price for Premium Motor Spirit (PMS) by N101, shifting the ex-depot rate from N774 to N875 per litre.
This adjustment has sparked widespread concern regarding potential fuel price hikes across Nigeria.
A senior official at the refinery confirmed this change to The PUNCH on Monday, explaining that the price hike was driven by recent fluctuations in global crude oil markets.
The official stated: “Yes, the price has been reviewed. The new gantry price is now N875 per litre from N774. The review became necessary due to changes in global crude fundamentals and replacement costs.”
Data from petroleumprice.ng indicates that these revised benchmarks are already being implemented within the downstream sector.
This price hike followed the refinery’s decision to suspend petrol loading operations at midnight on March 2, 2026. This suspension was triggered by a sudden spike in international crude prices, which surpassed $80 per barrel overnight.
While the issuance of Proforma Invoices and the lifting of petrol were paused, loading for Automotive Gas Oil, commonly known as diesel, remained unaffected and continued as scheduled.
The refinery’s move prompted a synchronized reaction from private depot owners across the country, many of whom stopped selling petrol during the day.
