Dangote Refinery Raises Petrol Price to ₦1,350 Per Litre

On Wednesday, Dangote Refinery announced an increase in the ex-depot price of premium motor spirit (petrol) to ₦1,350 per litre, a ₦75 rise from the previous price of ₦1,275. This marks the second price adjustment within a week, reflecting ongoing supply pressures in the downstream fuel market.

Senior officials explained that the new pricing template is a response to current supply realities and cost pressures affecting the system. The refinery had previously adjusted its price from ₦1,200 to ₦1,275, which had already triggered widespread price reviews among fuel market operators nationwide.

The latest price hike comes amid a temporary suspension of pro forma invoice issuance, which has affected product availability and contributed to supply pressures. Additionally, the increase in international crude prices and logistics costs has necessitated upward adjustments in depot prices, leading to expectations of higher pump prices across filling stations in Nigeria.