Petrol Prices Jump Nationwide As Retailers Sell At N960–N975
Petrol prices have risen sharply across Nigeria after Dangote Petroleum Refinery & Petrochemicals increased its gantry price for Premium Motor Spirit (PMS) by N100 per litre. The refinery raised the ex-depot price of PMS from N774 to N875 per litre. Retailers, including MRS Oil Nigeria Plc and NNPC Limited, quickly passed on the hike to consumers, with pump prices now at N975 per litre, up from N875. Other stations, such as AYM Shafa and AA Rano, raised prices by N80, bringing their rates to N960 per litre, according to a Vanguard survey. A senior refinery official confirmed the adjustment, explaining that global crude oil volatility and rising replacement costs made the price revision necessary. “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. The increase follows Dangote Petroleum’s temporary suspension of petrol loading operations starting midnight on March 2, 2026, after international crude oil prices surged above $80 per barrel. Diesel loading continued without interruption. Analysts warn that the higher gantry price could push petrol prices even higher at retail outlets nationwide in the coming days.