Dangote Refinery has increased the gantry price of Premium Motor Spirit (PMS) by N100, raising the ex-depot price from N774 to N874 per litre, a development that may trigger another rise in petrol prices across Nigeria.
A senior official of the refinery confirmed the adjustment on Monday, explaining that the decision was driven by recent volatility in the global crude oil market.
According to the official, the new price reflects the rising cost of crude oil and replacement expenses.
“Yes, the price has been reviewed. The new gantry price is now N874 per litre, up from N774. The revision became necessary due to changes in global crude fundamentals and replacement costs,” the official said.
Checks on petroleumprice.ng show that the new pricing has already been implemented, indicating a possible shift in downstream petroleum pricing that could affect pump prices nationwide.
Suspension of Petrol Loading
The refinery had earlier suspended petrol loading operations temporarily from midnight on March 2, 2026, after international crude oil prices surged above $80 per barrel.
However, the suspension applied only to petrol (PMS), while the loading of Automotive Gas Oil (diesel) continued without interruption.
Impact on Nigeria’s Downstream Sector
The development has already begun affecting Nigeria’s downstream petroleum sector, with several private depot owners reportedly suspending petrol sales during the trading day.
A downstream operator said the market is reacting cautiously to the sudden rise in crude oil prices.
“Several depot owners suspended PMS sales because of the crude rally. The market is already factoring in risk premiums. Nobody wants to sell below replacement cost,” the operator said.
Industry analysts warn that the adjustment by the refinery could push retail petrol prices higher across Nigeria if global crude prices continue to rise.
