Dangote Refinery raises petrol ex-depot price to ₦1,275 and suspends sales, triggering concerns over fresh fuel price increases nationwide

The Dangote Refinery has increased its ex-depot price of Premium Motor Spirit by ₦75 per litre and temporarily suspended product sales following a disruption in its Proforma Invoice processing system, raising fresh concerns over fuel price increases across Nigeria.

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Market data obtained from Petroleumprice.ng, confirmed by a refinery official on Wednesday, showed that the loading price of petrol was raised from ₦1,200 to ₦1,275 per litre. Coastal supply pricing also rose to ₦1,215 per litre.

A senior refinery source confirmed the adjustment, stating that the new pricing structure had taken effect immediately.

The official also confirmed the suspension of sales, noting disruptions in the internal invoicing process.

“Yes, the increase of PMS to ₦1,275 per litre is true. Coastal price is ₦1,215,” the source said.

According to another insider, the refinery halted its Proforma Invoice entry process around 4:00 pm on Tuesday, disrupting normal supply operations and temporarily freezing both petrol and Automotive Gas Oil transactions.

The development has triggered concern among fuel marketers and depot operators, who fear that the suspension could lead to higher logistics costs and eventual increases in pump prices nationwide.

Industry operators say supply interruptions at major depots often ripple through the downstream market, increasing distribution costs and tightening product availability.

The pricing adjustment also comes amid a sharp rise in global crude oil prices, which has increased pressure on refiners.

Brent crude was trading at $114.80 per barrel as of 10:35 am (WAT), while West Texas Intermediate stood at $103.40 per barrel, both reflecting notable increases driven by geopolitical tensions affecting global supply routes.

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Analysts warn that sustained volatility in crude oil markets could further influence refined product pricing in the coming weeks.