BREAKING: Dangote Refinery Raises Petrol Price to ₦1,175 Per Litre, Depot Owners Suspend Sales

The Dangote Petroleum Refinery has increased the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, back to ₦1,175 per litre, triggering a halt in sales by depot operators in several regions.

Earlier this week, the refinery reduced its petrol price to ₦1,075 per litre, a drop of ₦100, leading marketers to sell at around ₦1,100 per litre on March 10, 2026. However, with the new revision back to ₦1,175 per litre, depot owners immediately paused transactions to reassess margins and pricing.

The refinery has temporarily stopped loading operations as it seeks to reconcile stock levels with the updated pricing structure. This move follows a surge in global crude oil prices, which have climbed significantly in recent weeks, directly influencing refining and output costs.

Industry sources say the petrol price adjustment reflects heightened volatility in global oil markets and pressure on domestic supply dynamics. Local pump prices have already edged above previous rates, with some stations reporting petrol selling around ₦1,300 per litre following recent pricing shifts.

This development comes amid broader fuel market fluctuations in Nigeria, where frequent price adjustments by the refinery and other stakeholders continue to shape transportation costs and consumer sentiment nationwide.