The Dangote Petroleum Refinery has adjusted its petrol price back to ₦1,175 per litre, leading depot operators in various regions to briefly halt their sales.
Previously, the refinery had cut the ex-depot price of Premium Motor Spirit (PMS) by ₦100, setting it at ₦1,075 per litre on March 10, 2026, down from the initial ₦1,175.
Depot owners, who had begun retailing at an average of ₦1,100 per litre, stopped their transactions right away following the refinery’s price hike.
The refinery has also paused its loading activities for a short time to balance its inventory and implement the new pricing structure.
This change comes as a reaction to the climbing costs of global crude oil, with Brent crude jumping from $91 to $100 per barrel, which has a direct impact on refining expenses.
