Dangote Refinery Raises Petrol Price to ₦1,275 Per Litre, Suspends Sales Amid Supply Fears
- Dangote Refinery raises petrol price from ₦1,200 to ₦1,275 per litre, increasing pressure on consumers
- Sales suspension disrupts supply chain, raising fears of fuel scarcity and potential panic buying
- Global crude prices surge, leading to expectations of further increases in diesel and transportation costs
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigerians may be heading for another round of fuel price hikes as Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (PMS), also known as petrol, from ₦1,200 per litre to ₦1,275 per litre, representing a ₦75 jump.
The refinery’s coastal price was also raised to ₦1,215 per litre, signalling fresh pressure across the downstream petroleum market and raising fears of a nationwide increase in pump prices.
Source: UGC
The latest development comes as Dangote Refinery reportedly suspended fuel sales following the halt of its Proforma Invoice (PFI) entry system, a move that has disrupted normal loading operations and supply scheduling.
Sales suspension sparks supply concerns
Market sources told Petroleumprice.ng that the suspension of the Proforma Invoice (PFI) process occurred around 4:00 pm on Tuesday, forcing an immediate halt in the sale of PMS and Automotive Gas Oil (AGO), commonly known as diesel.
The disruption is already sending shockwaves through the petroleum distribution chain, with depot owners, marketers, and traders preparing for swift price adjustments.
Industry operators warn that any interruption in refinery loading operations often translates quickly into higher depot prices, which are eventually passed on to consumers at filling stations.
With supply already under pressure in some regions, the suspension could worsen scarcity concerns and trigger panic buying if prolonged.
Global crude surge adds pressure
The refinery’s latest price review is also linked to the sharp rise in global crude oil prices.
As of 10:35 am (WAT), Brent crude was trading at $114.80 per barrel, up 3.15 percent, while West Texas Intermediate (WTI) stood at $103.40 per barrel, reflecting a 3.49 per cent per cent increase.
The surge has been largely driven by escalating geopolitical tensions around the Strait of Hormuz, a critical global oil transit route.
Analysts say the rising international crude benchmarks have significantly increased feedstock replacement costs for refiners, making domestic price adjustments almost inevitable.
Diesel price increases may follow
Sources within the downstream sector also revealed that an increase in the price of AGO is expected soon as the market continues to react to the refinery’s latest operational changes.
This could further worsen transportation and logistics costs across the country, adding to inflationary pressure on goods and services.
For consumers already battling rising living costs, the latest petrol price increase may signal yet another painful adjustment in household spending as filling stations prepare to revise pump prices upward.
Source: UGC
Depot prices spike
A previous report by Legit.ng disclosed that depot operators hiked their rates in anticipation of the move by the mega refinery.
The increase comes amid growing tensions in the Middle East, particularly around the Strait of Hormuz, where supply concerns have pushed crude oil prices above $100 per barrel.
Analysts say the development could trigger another round of fuel price hikes in Nigeria, worsening the cost-of-living crisis already affecting millions of households.
Depot owners keep fuel prices steady
Legit.ng earlier reported that Nigerian motorists received a welcome breather on Monday, April 13, 2026, as depot owners largely kept Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) prices steady despite a sharp rally in global crude oil markets.
While Brent crude climbed to $100.4 per barrel (up 5.45%) and West Texas Intermediate hit $101.6 (up 5.22%) by mid-afternoon, downstream operators adopted a wait-and-see approach, heavily influenced by pricing signals from the Dangote Refinery.
According to mid-day reports from Petroleumprice.ng covering major hubs in Lagos, Port Harcourt, Warri, and Calabar, most marketers held last week’s levels.
Source: Legit.ng
