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Price adjustment follows recent drop in PMS ex-depot rate.
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Depot operators suspend sales temporarily after announcement.
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Increase linked to rising global crude oil prices.
The Dangote Petroleum Refinery has increased the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,175 per litre.
The development prompted depot operators in several locations to temporarily suspend sales while awaiting further directives.
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The refinery had earlier reduced the ex-depot price of petrol by ₦100 to ₦1,075 per litre on March 10, 2026, from the previous ₦1,175 per litre.
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Following the earlier reduction, depot operators began selling the product at an average price of about ₦1,100 per litre before the latest upward review.
Industry sources said the refinery also temporarily halted loading operations to reconcile stock levels and adjust to the new pricing structure.
The latest adjustment is attributed to the increase in global crude oil prices, with Brent crude rising from about $91 to $100 per barrel, which has pushed up refining costs.
The price revision comes amid ongoing concerns about fuel supply and pricing in Nigeria’s downstream petroleum sector.
