Dangote Petroleum Refinery on Monday raised the gantry price of Premium Motor Spirit (PMS) to N1,175 per litre, the third increase in a week, signalling further upward pressure on the cost of goods and services nationwide.
The refinery also revised the gantry price of Automotive Gas Oil (diesel) to N1,620 per litre. The latest adjustment lifts PMS from N995 per litre announced on Friday — and from N774 per litre earlier in the week — representing a cumulative rise of roughly N400 within seven days.
A senior refinery official, who spoke on condition of anonymity because he was not authorised to comment publicly, confirmed the new rates and said the changes had been communicated to marketers and depot operators. “Yes, the gantry prices have been adjusted. PMS is now N1,175 per litre while Automotive Gas Oil is N1,620 per litre,” the official said. “The market has been extremely volatile, and replacement costs have shifted significantly in recent days. These adjustments reflect prevailing market fundamentals and the cost environment we are currently operating in.”
Industry pricing platform petroleumprice.ng had updated depot pricing systems to reflect the revised rates, indicating a shift in the benchmark used by downstream marketers. Several filling stations in different states are already dispensing petrol above N1,000 per litre, with some outlets charging around N1,200, further straining household budgets and operating costs for businesses.
The surge follows a temporary suspension of petrol sales at the refinery on Sunday and comes amid federal government efforts — through the Nigerian National Petroleum Company Limited (NNPC) — to secure additional crude supplies from third‑party international traders to sustain domestic refining operations. Officials have warned, however, that such interventions may not immediately translate into lower retail prices for consumers.
Economists and consumer groups say the repeated hikes will likely raise transportation and production costs, leading to broader inflationary effects unless supply and pricing pressures are addressed.
The refinery did not make an immediate public statement beyond the notice to marketers.
