The Dangote Petroleum Refinery has revised the price of Premium Motor Spirit (PMS) to ₦1,175 per litre, prompting depot operators across various regions to temporarily pause sales.
The price increase follows a recent period when the refinery had reduced the ex-depot price by ₦100, bringing it down to ₦1,075 per litre on March 10, 2026, from the previous ₦1,175 per litre. Depot operators, who had been selling PMS at an average of ₦1,100 per litre, immediately suspended transactions in response to the upward revision.
The refinery has also temporarily halted loading operations to reconcile stock levels and implement the new pricing framework.
According to the refinery, the price adjustment is a direct response to the recent rise in global crude oil prices, with Brent crude climbing from $91 to $100 per barrel, which has increased refining costs.
The development highlights the continuing impact of international oil market fluctuations on domestic fuel pricing and distribution in Nigeria.
ELIJAH ADEYEMI
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