Breaking: Dangote Refinery Increases Fuel Price Again

Dangote refinery has increased the fuel price again.

Newsrain Nigeria reports that Dangote Refinery has again increased the price of fuel, raising its ex-depot price of Premium Motor Spirit to N1,350 per litre.

The latest adjustment, confirmed on Wednesday by a senior official at the Dangote Refinery and the pricing platform Petroleumprice.ng, represents an N75 increase from the previous N1,275 per litre, reinforcing a pattern of frequent price recalibrations that has defined the market in recent weeks.

READ ALSO: Dangote Increases Fuel Price By N75, Suspends Product Sales

The official said the new gantry price has been implemented across all loading channels, forcing marketers to adjust their pricing templates immediately amid tight supply and shifting cost realities.

A senior official familiar with the development said, “The new pricing template has been activated across the board.

All loading points have been updated, and marketers are already responding by adjusting their depot prices. This is not an isolated change; it reflects prevailing supply and cost pressures in the system.”

Recall that the price increase comes barely a week after Dangote Refinery raised its ex-depot price from N1,200 to N1,275 per litre, highlighting the rapid pace of adjustments in the downstream market and the refinery’s growing influence on domestic fuel pricing.

It is also the second N75 increase within seven days.

Despite these upward revisions, a senior management official of the Dangote Group recently revealed that the Dangote Petroleum Refinery has been subsidising the petrol and diesel it sells to the Nigerian market.

The fresh increase also comes against the backdrop of a temporary halt in the issuance of pro forma invoices earlier this week, a development that market players say further constrained product availability and intensified upward price movements across the downstream value chain.

“The suspension of PFI created a short-term supply squeeze,” the official added. “When you combine that with international crude price movements and logistics costs, it becomes inevitable that depot prices will adjust upward. What we are seeing is a direct market response to those realities.”

Also, recall that within the past month, Dangote Refinery has adjusted its petrol prices multiple times, reflecting changes in crude sourcing costs, foreign exchange pressures, and domestic distribution dynamics.