Petrol prices have jumped across Nigeria following a hike by Dangote Petroleum Refinery & Petrochemicals, which raised its gantry price for Premium Motor Spirit (PMS) by N100 per litre.
The refinery increased the ex-depot price of PMS to N875 per litre, up from N774. Retail partners, including MRS Oil Nigeria Plc and NNPC Limited, quickly adjusted their pump prices to reflect the new rate, a Vanguard survey revealed on Tuesday.
MRS and NNPC now sell petrol at N975 per litre, up from N875 on Monday, while other stations, such as AYM Shafa and AA Rano, raised prices by N80, bringing their rates to N960 per litre.
A senior refinery official confirmed the adjustment, attributing the increase to volatility in global crude oil markets.
“Yes, the price has been reviewed. The new gantry price is now N874 per litre, up from N774. The revision became necessary due to changes in global crude fundamentals and replacement costs,” the official explained.
The price surge follows Dangote Petroleum’s temporary suspension of petrol loading operations from midnight on March 2, 2026, after international crude oil prices climbed above $80 per barrel. Diesel loading, however, continued uninterrupted.
Industry experts warn that the revised gantry price is likely to trigger further increases at retail pumps nationwide.
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