The Dangote Petroleum Refinery has raised the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦1,175 per litre, prompting depot operators in several locations to temporarily suspend sales.
The development comes just days after the refinery reduced the price by ₦100, bringing it down to ₦1,075 per litre on March 10, 2026, from the earlier ₦1,175 per litre.
Following that reduction, depot owners had begun selling petrol at an average price of about ₦1,100 per litre.
However, the sudden upward review by the refinery forced many depot operators to pause transactions while awaiting further clarity on the new pricing structure.
Industry sources indicated that the refinery also halted loading operations temporarily in order to reconcile existing stock and adjust to the revised price.
The latest price adjustment is linked to the rise in global crude oil prices.
Brent crude recently climbed from about $91 to $100 per barrel, a development that has increased the cost of refining petroleum products.
The change in price is expected to influence petrol supply and pricing across the downstream sector in the coming days.
