Again, Dangote Raises Petrol Price By N100 To N1,275 Per Liter

The Dangote Petroleum Refinery has once more adjusted the ex-depot price of Premium Motor Spirit (PMS), raising it to N1,275 per litre, in what marks another rapid shift in its pricing structure within hours.

The new rate reflects a N100 increase from the N1,175 per litre earlier recorded in March, representing an 8.5 per cent jump. It also comes shortly after a previous revision to N1,245 per litre late Friday, indicating a N30 increase in the space of a few hours.

In a fresh notice issued to marketers on Saturday, the refinery directed stakeholders to disregard its earlier pricing communication, noting that a new template had taken effect.

“Dear Valued Customer, kindly note that the prices contained in our previous correspondence are no longer applicable and should be disregarded,” the statement read.

The refinery also revised its coastal price upward to N1,646,748 per metric tonne from N1,512,648, reflecting an increase of N134,100, or about 8.9 per cent.

It stated that the updated prices apply immediately to all pending and new transactions.

“Please note that the revised price will apply to all unloaded gantry and coastal volumes and is effective from 12am on March 21, 2026,” the company said.

The firm added that customers operating under existing credit facilities would still be able to load products, provided their bank guarantees are sufficient to cover the price difference.

“For customers with a valid Bank Guarantee with DPRP, loading will continue with existing ATCs/PRN (if any), subject to the BG credit balance covering the price differential,” it explained.

The frequent adjustments within such a short period reflect sustained pressure on pricing in the downstream sector, with market conditions continuing to drive instability.

Analysts say the trend underscores the sensitivity of local fuel prices to global crude oil movements, exchange rate fluctuations, and supply logistics, even as domestic refining capacity expands.