- The Dangote Petroleum Refinery has increased the price of petrol for the fourth time in March 2026
- The gantry price rose from N1,175 to N1,245 per litre (N70 increase) with the new pricing taking effect from March 21, 2026
- The refinery attributed the hike in price to escalating global geopolitical tensions
The Dangote Petroleum Refinery has announced a fresh hike in the price of Premium Motor Spirit (petrol), citing escalating global geopolitical tensions.
For the fourth time in March, the Dangote Petroleum Refinery has increased the price of Premium Motor Spirit (petrol), raising fresh concerns over fuel affordability in Nigeria.
In a notice issued to marketers on Friday, March 20, the refinery announced an upward review of its ex-depot (gantry) price from N1,175 per litre to N1,245 per litre. The coastal price was also adjusted, reflecting broader cost pressures.
This latest hike continues a rapid upward trend seen throughout March.
PMS prices have climbed from about N774 per litre to N875, then N995, N1,175, and now N1,245 within the same month.
“Please be informed that due to the current global geopolitical situation, which has further escalated, the PMS gantry and coastal prices have been reviewed and updated as outlined below,” the notice read.
According to the refinery, the gantry price increased by N70 per litre, while the coastal price rose from N1,512,648 per metric tonne to N1,606,518 per metric tonne.
The revised pricing structure took effect from midnight on Saturday, March 21.
“The refinery raised its coastal price from N1,512,648 per metric tonne to N1,606,518 per metric tonne, while the gantry price increased from N1,175 per litre to N1,245 per litre.
“Please note that the revised price will apply to all unloaded gantry and coastal volumes and is effective from 12am on the 21st of March 2026,” it stated.
The company clarified that marketers with existing supply agreements supported by bank guarantees would still be able to lift products under prior approvals, subject to conditions.
“For customers with a valid Bank Guarantee with DPRP, loading will continue with existing ATCs/PRN (if any), provided the BG credit balance covers the price change differential,” the notice added.
It further noted that any cost differences resulting from the new pricing would be recovered from marketers.
“The corresponding debit note will be passed in your trading account with DPRP. Payment evidence for the price change differential will be required by Monday, March 23, 2026,” the company said.
The adjustment is expected to trigger a fresh increase in pump prices nationwide, as marketers pass on the higher costs to consumers.
Despite expectations that the Dangote refinery would stabilise Nigeria’s fuel supply, the latest hike highlights the continued impact of global crude oil volatility and supply chain disruptions on the domestic market.
The development comes amid rising geopolitical tensions in major oil-producing regions, particularly in the Middle East, which have driven up crude oil prices and freight costs.
The refinery, however, maintained that the adjustment was unavoidable, stressing that external market forces remain a key driver of pricing decisions.