Barely hours after increasing its gantry price for the fourth time in the month of March, the Dangote Petroleum Refinery has again raised its ex-depot price of Premium Motor Spirit (petrol) to N1,275 per litre, signalling deepening volatility in Nigeria’s deregulated downstream sector.
The latest adjustment represents a N100 increase from the N1,175 per litre sold earlier in the month, translating to an 8.5 per cent rise, while it also reflects a N30 jump from the N1,245 per litre announced just hours earlier on Friday night.
It said the price list sent in its previous correspondence is no longer applicable.
The refinery also increased its coastal price from N1,512,648 per metric tonne to N1,646,748 per metric tonne, indicating a difference of N134,100, or an 8.9 per cent rise.
In a notice sent to marketers and customers obtained by our correspondent on Saturday morning, the refinery urged stakeholders to disregard earlier pricing templates.
The notice read, “Dear Valued Customer, kindly note that the prices contained in our previous correspondence are no longer applicable and should be disregarded.
“Please find below the current DPRP PMS gantry and coastal prices. The refinery increased its coastal price from N1,512,648 to N1,646,748 per metric tonne, while the gantry price rose from N1,175 to N1,275 per litre.”
The company stressed that the new price regime takes immediate effect.
“Please note that the revised price will apply to all unloaded gantry and coastal volumes and is effective from 12am on the 21st of March 2026,” it stated.
The refinery, however, clarified that customers operating under existing credit arrangements would still be accommodated, subject to covering the price difference.
“For customers with a valid Bank Guarantee with DPRP, loading will continue with existing ATCs/PRN (if any) provided the BG credit balance covers the price change differential,” the firm explained.
The rapid succession of price adjustments within a single day underscores the intensity of pricing pressures currently facing the market.
The hike underscores the continued vulnerability of Nigeria’s fuel market to international crude oil price volatility and supply chain disruptions, despite the coming on stream of the Dangote refinery, which was expected to stabilise domestic supply.
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