The Dangote Refinery has once again increased the ex-depot price of Premium Motor Spirit (PMS), setting the new rate at ₦1,350 per litre.
Confirmed on Wednesday, May 6, 2026, by a senior refinery official and the pricing platform Petroleumprice.ng, this latest adjustment marks a ₦75 increase from the previous price of ₦1,275.
This change follows a consistent trend of price hikes observed in recent weeks.
According to a senior official, the new gantry price is now active across all loading channels.
This has forced marketers to revise their own pricing as they face tight supply and rising costs.
The official noted, “The new pricing template has been activated across the board. All loading points have been updated, and marketers are already responding by adjusting their depot prices. This is not an isolated change; it reflects prevailing supply and cost pressures in the system.”
This marks the second ₦75 increase within just seven days, coming only a week after the refinery raised the price from ₦1,200 to ₦1,275. This rapid succession of hikes highlights the refinery’s growing impact on the domestic fuel market.
Despite these frequent upward adjustments, a senior management official from the Dangote Group recently claimed that the refinery has actually been “subsidising the petrol and diesel it sells to the Nigerian market.”
The latest hike also follows a temporary pause in issuing pro forma invoices (PFI) earlier this week, which market players say restricted supply and drove prices higher.
The official added, “The suspension of PFI created a short-term supply squeeze. When you combine that with international crude price movements and logistics costs, it becomes inevitable that depot prices will adjust upward. What we are seeing is a direct market response to those realities.”
Over the past month, the refinery has adjusted its petrol prices several times, citing changes in crude oil costs, foreign exchange volatility, and local distribution issues.
While the refinery previously lowered prices to stay competitive, it has now reversed that course due to tighter supply and rising global oil prices.
These frequent shifts reflect a transition in Nigeria’s fuel market as domestic refining begins to replace imports, though prices remain heavily tied to international market variables.
Consumers are expected to feel the impact quickly as marketers pass these costs down, leading to higher pump prices across the country.
