Dangote Petroleum Refinery has increased its ex-depot gantry price for Premium Motor Spirit (petrol) by N100 per litre, bringing it to N874 from the previous N774.
The adjustment, effective immediately, was confirmed by a senior refinery official on March 2, 2026. It follows a sharp rise in global crude oil prices above $80 per barrel, which is due to the escalating tensions in the Middle East, including the ongoing US-Iran-Israel conflict and disruptions affecting key supply routes and production.
This ex-depot price will likely push retail pump prices nationwide higher in the coming days.
Industry estimates indicate stations could adjust to between N980 and over N1,000 per litre, depending on location, logistics, and marketer margins.
The hike reverses a recent brief dip to N774 and indicates how global events continue to influence local pricing, despite the country’s growing domestic refining capacity at the 650,000 bpd Dangote facility.
Administrator and Writer
