By Muhammad Mamman
Nigeria’s Dangote Petroleum Refinery has increased the ex-depot price of petrol to ₦1,175 per litre, triggering an immediate suspension of sales by depot operators across several parts of the country.
The price revision reverses a recent reduction announced on March 10, when the refinery cut the price of Premium Motor Spirit (PMS) by ₦100 to ₦1,075 per litre from ₦1,175.
Following that earlier reduction, depot operators had begun selling the product at an average of about ₦1,100 per litre. However, the latest price adjustment forced many of them to temporarily halt sales while reassessing their pricing and supply positions.
Industry sources say the refinery has also paused loading operations for the time being as it works to reconcile existing stock and align distribution with the updated pricing framework.
The development comes amid a fresh surge in global crude oil prices. The benchmark Brent crude oil has climbed from about $91 per barrel to roughly $100 per barrel in recent days, increasing the cost of refining petroleum products.
Analysts say the fluctuation highlights how international crude prices continue to influence domestic fuel pricing in Nigeria, particularly since the country moved away from state fuel subsidies and began relying more on market-driven pricing mechanisms.
