The Dangote Refinery has raised its ex-depot price for Premium Motor Spirit (PMS) by ₦75 per litre, sparking fresh fears of a nationwide fuel price surge.
Alongside this hike, the refinery has reportedly suspended product sales due to a disruption in its Proforma Invoice (PI) entry process.
Data from Petroleumprice.ng and confirmation from a refinery official on Wednesday indicate that the petrol loading price has moved from ₦1,200 to ₦1,275 per litre, while the coastal supply price has been adjusted to ₦1,215 per litre.
A refinery official verified the change, stating, “Yes, the increase of PMS to N1,275 per litre is true. Coastal price is N1,215.”
Internal sources revealed that the refinery stopped its PI entry process at approximately 4:00 pm on Tuesday, which brought normal supply scheduling to a halt.
This suspension resulted in an immediate stop to the sale of both petrol and Automotive Gas Oil (AGO).
The price hike and operational pause have caused immediate concern among marketers and traders who are now preparing for higher depot costs.
Operators pointed out that these disruptions usually lead to increased logistics and distribution expenses, adding further pressure to the petroleum value chain.
These adjustments are occurring as global crude prices climb, significantly raising costs for refiners.
As of Wednesday morning, Brent crude rose by 3.15 per cent to trade at $114.80 per barrel, while West Texas Intermediate (WTI) increased by 3.49 per cent to $103.40 per barrel.
This international price spike is largely attributed to geopolitical tensions in the Strait of Hormuz, a vital global oil corridor, which has forced refiners to adjust their pricing to cover rising replacement costs.
