The Dangote Petroleum Refinery has increased its gantry price for Premium Motor Spirit, popularly known as petrol, from N995 to N1,175 per litre, a development expected to trigger another rise in pump prices across Nigeria.
A source familiar with operations at the refinery confirmed the adjustment, stating that the price of petrol at the gantry had been raised while Automotive Gas Oil, commonly known as diesel, was now priced at N1,620 per litre.
“Yes, the gantry prices have been adjusted. PMS is now N1,175 per litre while Automotive Gas Oil is N1,620 per litre,” the source said.
The latest increase comes amid continued volatility in global crude oil markets, driven largely by geopolitical tensions, including the growing conflict between the United States and Iran, as well as rising international crude prices.
The adjustment follows a series of price hikes recorded earlier this month. The refinery had recently raised its ex-gantry petrol price to N995 per litre from N874, which itself had increased from N774 per litre in early March.
Industry analysts say the repeated adjustments reflect higher crude oil landing costs linked to international supply disruptions, increased freight charges and fluctuations in global oil prices.
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Market watchers note that the pricing structure of the Dangote refinery has become a major benchmark for downstream petroleum marketers in Nigeria. With the latest increase, retail petrol prices at filling stations, already above N1,000 per litre in several locations, may climb further in the coming days.
Petroleum marketers estimate that pump prices could rise to between N1,200 and N1,300 per litre in some states, depending on transportation costs, distribution margins and local taxes.
Officials have previously explained that price adjustments at the refinery are influenced by global market conditions. They cited a significant rise in Brent crude prices and landing costs approaching $91 per barrel after freight and other logistics expenses.
The refinery has maintained that it continues to absorb part of the cost increases in an effort to moderate the impact on the domestic market while strengthening local refining capacity and reducing reliance on imported fuel.
The latest development has generated concern among Nigerians already facing rising living costs and inflation. Fuel price fluctuations have remained a major issue since the removal of petrol subsidy in 2023.
As Africa’s largest single-train refinery, the Dangote facility has become a central player in Nigeria’s fuel supply chain, with its pricing decisions often influencing market trends across the downstream sector.
As of the time of filing this report, the Dangote Group had not issued an official statement explaining the latest adjustment or outlining measures to cushion the impact on consumers.
Meanwhile, the Nigerian National Petroleum Company Limited and independent petroleum marketers are closely monitoring the situation amid concerns that further increases may occur if global crude oil prices continue to rise.
