Dangote Refinery Raises Petrol Ex-Depot Price To ₦1,175 Per Litre

The Dangote Petroleum Refinery has increased its ex-depot price for Premium Motor Spirit (petrol) to ₦1,175 per litre, reversing the price reduction it introduced earlier in the week.

Sources at the refinery confirmed on Friday that the adjustment came only days after the facility slashed the ex-depot price by ₦100 to ₦1,075 per litre on March 10, 2026, a move that triggered a rush among depot operators to purchase the product.

Following the earlier reduction, several depot operators had begun selling petrol at an average of about ₦1,100 per litre. However, the refinery’s latest increase forced many of them to suspend sales temporarily while they reassess their pricing and inventory.

Loading activities at the refinery have also been halted for the time being as the company reconciles its stock levels and aligns operations with the new price structure, a situation that has disrupted supply at depot level.

Industry sources attribute the fresh price increase to a surge in global crude oil prices. Brent crude reportedly rose from about $91 to $100 per barrel, significantly raising the cost of refining and limiting the refinery’s ability to sustain lower petrol prices.

The latest adjustment is one of several price changes made by the Dangote Refinery in recent weeks as operators respond to fluctuations in the global oil market.

Before the brief March 10 reduction, the refinery had already increased petrol prices three consecutive times. The temporary price cut provided short-lived relief before the latest upward review driven by rising crude oil costs and ongoing tensions in the Middle East involving the United States, Iran and Israel.