RismadarVoice Reporters, April 29, 2026
The Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (PMS) by ₦75 per litre, raising fresh concerns over a potential surge in fuel prices nationwide.
Data obtained from Petroleumprice.ng, alongside confirmation from a refinery official on Wednesday, showed that the petrol loading price rose from ₦1,200 to ₦1,275 per litre, while coastal supply prices increased to ₦1,215 per litre.
The official confirmed the development, stating, “Yes, the increase of PMS to ₦1,275 per litre is true. Coastal price is ₦1,215.”
The price adjustment comes amid operational disruptions, as the refinery also suspended product sales following a halt in its Proforma Invoice (PFI) process.
A source familiar with the situation disclosed that the refinery stopped its PFI entry process at about 4:00 p.m. on Tuesday, disrupting normal supply scheduling across its loading system. The move reportedly led to an immediate suspension of both petrol and Automotive Gas Oil (diesel) sales.
The twin developments have triggered swift reactions among petroleum marketers and traders, many of whom are bracing for higher depot prices and a likely increase in pump prices across the country.
Industry operators noted that such disruptions typically escalate logistics and distribution costs, further intensifying pricing pressures along the downstream value chain.
The development also coincides with rising global crude oil prices, which have significantly increased feedstock costs for refiners.
As of 10:35 a.m. (WAT), Brent crude was trading at $114.80 per barrel, representing a 3.15 per cent increase, while West Texas Intermediate (WTI) stood at $103.40 per barrel, up by 3.49 per cent.
The surge in international oil prices has been linked to heightened geopolitical tensions around the Strait of Hormuz, a critical global oil supply route, thereby raising replacement costs for refiners and prompting upward adjustments in refined product prices.
