Dangote refinery has increased its ex-depot price of Premium Motor Spirit, otherwise known as petrol, to N1,350 per litre, up from N1,275.
The latest adjustment follows the suspension of Proforma Invoices on Tuesday, May 5, 2026, a move that typically indicates a pricing change across loading channels. Marketers have since begun adjusting their depot and retail pricing structures in response.
Industry stakeholders said the N75 increase is likely to translate into higher pump prices nationwide in the coming days, particularly in major consumption centres, as operators respond to rising replacement and landing costs.
Oil prices slip as Trump reveals possible Iran peace deal
The price hike comes against the backdrop of continued volatility in the global oil market and supply-side adjustments within Nigeria’s fuel distribution chain, both of which are exerting pressure on domestic pricing.
Despite a recent dip in international crude prices – where benchmarks such as West Texas Intermediate briefly fell below $100 per barrel on renewed optimism over easing tensions in the Middle East – local market dynamics appear to be driving pricing decisions.
The development comes just a week after Dangote refinery raised its ex-depot price from N1,200 to N1,275 per litre, underscoring the rapid pace of price adjustments and the refinery’s growing influence on Nigeria’s fuel market.
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