Nigeria’s fuel market has recorded another major shift after the Dangote Petroleum Refinery increased the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,175 per litre.
The latest adjustment, communicated to petroleum marketers and depot operators on Monday, March 9, 2026, represents a significant jump from the ₦995 per litre price announced just days earlier. The increase amounts to about ₦180 per litre, roughly an 18 percent rise within three days.
Industry sources say the price revision is the third petrol price increase within one week, reflecting volatility in global crude oil markets and higher replacement costs for refined products.
Alongside the petrol hike, the refinery also revised the gantry price of Automotive Gas Oil (diesel) to ₦1,620 per litre, further raising concerns about rising operational costs in Nigeria’s downstream petroleum sector.
Checks on industry pricing platforms indicate that many depot operators and fuel marketers have already updated their pricing templates to reflect the new benchmark. As a result, retail pump prices at some filling stations across the country are now exceeding ₦1,000 per litre, with some outlets reportedly selling petrol for around ₦1,200 per litre.
Analysts warn that the development could trigger a chain reaction across the economy, as higher fuel costs typically translate into increased transportation, logistics, and production expenses, potentially pushing up the prices of goods and services nationwide.
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The refinery, owned by the Dangote Group and commissioned in 2023, is Africa’s largest refinery and plays a central role in Nigeria’s efforts to meet domestic fuel demand through local refining.
