- Dangote Refinery increases petrol price to ₦1,175 per litre
- Price had earlier been reduced to ₦1,075 per litre
- Depot operators temporarily halt petrol sales after the increase
- Rise linked to increase in global crude oil prices
The Dangote Petroleum Refinery has increased the price of petrol to ₦1,175 per litre, just hours after announcing a reduction in the ex-depot price of the product.
The latest price adjustment has reportedly forced several depot operators to temporarily suspend sales as they review the updated pricing framework.
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According to a senior official who spoke on the development, the refinery had earlier reduced the ex-depot price of Premium Motor Spirit to ₦1,075 per litre on March 10, 2026, triggering increased buying activity among depot operators.
However, the company later reversed the decision and raised the price back to ₦1,175 per litre.
“Yes, it is true,” the official confirmed during a telephone conversation when asked about the price increase.
Depot Sales Disrupted
Checks on Petroleumprice.ng also confirmed the development, showing that the sudden revision disrupted trading activities across several petroleum depots.
Depot operators, who had already begun selling petrol at an average price of about ₦1,100 per litre, reportedly paused transactions immediately after the refinery raised the price again.
A market source familiar with the situation explained that the sudden price adjustment forced depot owners to stop sales temporarily.
“Depot owners across multiple hubs have temporarily halted transactions following the refinery’s upward review of the ex-depot price,” the source said.
The refinery has also temporarily halted loading operations as it reconciles stock levels and adjusts to the updated pricing structure.
Global Crude Oil Price Influence
The price revision is believed to be connected to recent changes in global oil prices.
Reports indicate that the price of Brent crude oil has increased from $91 to about $100 per barrel, a development that directly affects refining costs.
The fluctuations in crude oil prices continue to influence petrol pricing in Nigeria’s deregulated fuel market.