The Dangote Petroleum Refinery has increased its Premium Motor Spirit gantry price to N995 per litre, marking a sharp N221 rise within four days, amid volatility in global crude oil prices and shipping costs. The new price represents an increase from N874 per litre, which itself was introduced earlier this week after the refinery raised its ex-depot price from N774 to N874 per litre. With the latest revision, the refinery’s petrol price has climbed from N774 to N995 per litre within four days, representing about a N221 or 29 per cent increase over the period. Officials at the refinery have repeatedly defended its pricing decisions, insisting that petrol prices must reflect prevailing global crude oil prices, logistics costs and operational realities. “The Dangote Refinery will ensure that Nigeria is insulated from these supply shocks by prioritising supply to the domestic market.

Source: Punch March 07, 2026 09:35 UTC