JUST IN: DANGOTE REFINERY RAISES PETROL PRICE TO N1,275/LITRE AFTER MULTIPLE MARCH HIKES
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By ‘Sefiu Ajape
Barely hours after increasing its gantry price for the fourth time in March, the Dangote Petroleum Refinery has again raised its ex-depot price of Premium Motor Spirit (petrol) to N1,275 per litre, signalling heightened volatility in Nigeria’s deregulated downstream sector.
The latest adjustment represents a N100 increase from the N1,175 per litre sold earlier in the month—an 8.5 per cent rise—and a N30 jump from the N1,245 per litre announced just hours earlier on Friday night.
The refinery noted that its previous pricing template is no longer valid.
It also raised its coastal price from N1,512,648 per metric tonne to N1,646,748 per metric tonne, marking an increase of N134,100, or 8.9 per cent.
In a notice sent to marketers and customers on Saturday, the refinery urged stakeholders to disregard earlier communications.
“Dear Valued Customer, kindly note that the prices contained in our previous correspondence are no longer applicable and should be disregarded.
“Please find below the current DPRP PMS gantry and coastal prices. The refinery increased its coastal price from N1,512,648 to N1,646,748 per metric tonne, while the gantry price rose from N1,175 to N1,275 per litre.”
The company stated that the new pricing takes immediate effect.
“Please note that the revised price will apply to all unloaded gantry and coastal volumes and is effective from 12am on the 21st of March 2026,” it said.
However, the refinery clarified that customers with existing credit arrangements would still be accommodated, provided they cover the price difference.
“For customers with a valid Bank Guarantee with DPRP, loading will continue with existing ATCs/PRN (if any) provided the BG credit balance covers the price change differential,” the firm explained.
The rapid series of price increases within a short period highlights the intense pricing pressures in the market.
Despite expectations that the Dangote refinery would stabilise domestic supply, the continued hikes underscore the sector’s vulnerability to global crude oil price fluctuations and supply chain disruptions.
Findings by petroleumprice.ng show that the refinery has adjusted petrol prices five times in March alone, reflecting a sharp upward trend driven by international oil market dynamics.
At the start of the month, the gantry price rose from N774 per litre on March 2 to N874, before subsequent increases to N1,050, N1,175, N1,245, and now N1,275 per litre.
On March 2, the price increase from N774 to N874 represented a N100 rise, or about 12.9 per cent. This was followed by a jump to N1,050 per litre, an increase of N176, or roughly 20.1 per cent.
Within days, the price climbed to N1,175 per litre, reflecting a further N125 increase, or about 11.9 per cent. On March 20, it was raised again to N1,245 per litre, a N70 increase, representing around 6.0 per cent.
Hours later, the latest adjustment pushed the price to N1,275 per litre, adding another N30, or 2.4 per cent increase.
Overall, the gantry price has surged by N501 per litre from N774 at the beginning of the month to N1,275—an increase of approximately 64.7 per cent in less than three weeks.
Similarly, coastal prices have risen steadily from about N1.45 million per metric tonne earlier in the month to N1,646,748, reflecting continued pressure from global product pricing and freight costs.
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