9.3.2026
For the third time in one week the Dangote Petroleum Refinery has hiked the gantry price of Premium Motor Spirit (PMS) to ₦1,175 per litre.
The latest increase, which was communicated to marketers and depot operators on Monday, raises the ex-depot price from ₦995 per litre (announced on Friday) by ₦180, representing an 18.1 per cent surge in three days.
The refinery, according to reports, also adjusted the gantry price of Automotive Gas Oil (diesel) to ₦1,620 per litre.
Meanwhile, marketers have warned that the price of petrol could peak at N1,500 per litre.
The development follows a recent surge in international crude oil prices linked to escalating tensions in the Middle East, which have increased feedstock costs for refiners and tightened supply across global energy markets.
With pump prices already averaging N1,200 in some parts of the country, marketers said the price may hit N1,500 per litre as crude oil races towards $100 per barrel.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said none of its members was able to load petrol from the refinery on Sunday.
The National President of PETROAN, Dr Billy Gillis-Harry, confirmed the situation, saying marketers are waiting for clarity on the refinery’s next pricing decision.
Gillis-Harry said: “Today we didn’t load and we are not sure what will happen tomorrow. It is because of the possibilities around crude oil prices. The price of crude is not stable; it can go up or come down. Until the crisis in the Middle East de-escalates, it is difficult to predict what will happen.”