Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (PMS) to ₦1,350 per litre, marking another upward adjustment in Nigeria’s downstream market.
The latest hike, confirmed on Wednesday by a senior refinery official and data from Petroleumprice.ng, represents a ₦75 increase from the previous ₦1,275 per litre.
This is the second ₦75 price increase within seven days, underscoring the rapid pace of price movements as the refinery tightens its grip on domestic fuel supply.
Industry sources confirm the new gantry price has been implemented across all loading points, so marketers will need to revise depot and retail pricing structures immediately.
“The new pricing template has been activated across the board. All loading points have been updated, and marketers are already adjusting,” a senior official familiar with the development said.
Despite the recent increases, a senior executive within the Dangote Group disclosed that the refinery has been subsidising part of its petrol and diesel supply to the Nigerian market.
Supply Constraints, Global Pressures Drive Hike
Market analysts link the adjustment to a combination of:
- Tight product availability following a temporary halt in pro forma invoice (PFI) issuance
- Rising global crude oil prices
- Foreign exchange volatility
- Logistics and distribution costs
“The suspension of PFI created a short-term supply squeeze,” the source added. “When combined with international price movements and logistics costs, an upward adjustment becomes inevitable.”
