Dangote Refinery Hikes Petrol Price to ₦1,245 Per Litre

Nigerians may face higher fuel costs as the Dangote Refinery has adjusted its gantry price of Premium Motor Spirit (PMS) upward by ₦70 per litre.

The new price has been adjusted from ₦1,175 to ₦1,245 per litre, with the change set to take effect from 12:00 a.m. on March 21, 2026.

The refinery said the revised rate will apply to all outstanding and unloaded volumes.

In a notice sent to marketers on Friday night, the Refinery said customers with pending orders are expected to comply with the new pricing structure.

In addition to the pump price adjustment, the refinery also raised its coastal supply price.

The new rate now stands at ₦1,606,518 per metric tonne, up from ₦1,512,648.

“The refinery raised its coastal price from N1,512,648 per metric tonne to N1,606,518 per metric tonne, while the gantry price increased from N1,175 per litre to N1,245 per litre.

“Please note that the revised price will apply to all unloaded gantry and coastal volumes and is effective from 12 am on the 21st of March 2026,” it stated.

The refinery attributed the increase to persistent global geopolitical tensions, which continue to impact crude oil prices and supply chains.

The company stated that customers operating under valid Bank Guarantees may continue loading products under existing agreements.

“For customers with a valid Bank Guarantee with DPRP, loading will continue with existing ATCs/PRN (if any) provided the BG credit balance covers the price change differential,” the notice added.

However, such customers are required to pay the price difference arising from the adjustment.

The refinery set March 23, 2026, as the deadline for settling all differential payments.

The latest price hike is expected to exert additional pressure on fuel prices across the country, with possible implications for transportation costs and inflation.