Dangote Refinery Raises Petrol Price to N875, Sparks Fresh Pump Hike Fears

The Dangote Petroleum Refinery has raised its Premium Motor Spirit gantry price by N101, increasing the ex-depot rate from N774 to N875 per litre, a move likely to trigger fresh concerns over a possible hike in pump prices nationwide.

A senior refinery official confirmed the adjustment on Monday, explaining that the decision was influenced by recent fluctuations in global crude oil prices.

According to the source, the new gantry price of N875 per litre replaced the previous N774 rate, with the review attributed to changing global crude fundamentals and rising replacement costs.

The price increase came shortly after the refinery suspended petrol loading operations effective midnight on March 2, 2026, following a sharp surge in international crude oil prices, which crossed the $80 per barrel threshold overnight.

Data obtained from industry sources showed that Premium Motor Spirit loading stopped at exactly midnight, halting product lifting and the issuance of Proforma Invoices, an indication that fresh transactions were temporarily paused.

However, the suspension applied strictly to petrol, as Automotive Gas Oil, popularly known as diesel, continued to load.