Dangote Refinery has increased its petrol (PMS) ex-depot price from ₦1,175 to ₦1,245 per litre, effective March 21, 2026, citing rising global crude oil costs and geopolitical tensions.
This latest hike follows previous increases in early March, raising costs by ₦70 per litre. The new pricing is expected to increase pump prices nationwide.
Key Details of the Price Hike:
New Price: The ex-depot (gantry) price increased to ₦1,245 per litre.
Effective Date: The new price applies to all unloaded products from 12 a.m. on March 21, 2026.
Reason: The refinery cited escalating global geopolitical tensions (specifically mentioning Middle East conflicts) and higher international crude costs.
Impact: Marketers with existing, authorized orders can still lift products at previous rates, provided their bank guarantees cover the differential.
Previous Hikes: This move represents the third major upward adjustment within a week, having risen from ₦995 to ₦1,175 earlier in the month, according to Peoples Gazette Nigeria and Instagram reports.
The price adjustment is expected to result in increased transportation and consumer goods costs throughout Nigeria.
Leave a Reply