Dangote Petroleum Refinery has again reviewed upward its ex-depot price of Premium Motor Spirit, increasing it to N1,275 per litre, the fifth adjustment recorded in March.
The latest hike, announced shortly after an earlier revision, represents an additional N30 increase from N1,245 per litre and a broader rise of N100 compared to the N1,175 rate earlier in the month.
In a fresh communication to marketers and customers on Saturday, the refinery stated that its previous pricing structure had been withdrawn, urging stakeholders to adopt the updated rates with immediate effect.
Details contained in the notice showed that while the gantry price climbed to N1,275 per litre, the coastal rate was also adjusted upward from N1,512,648 to N1,646,748 per metric tonne.
The company explained that the new prices took effect from 12:00 a.m. on March 21, 2026, and would apply to all outstanding and subsequent transactions.
It added that clients operating under credit facilities would continue to lift products, provided their bank guarantees are sufficient to absorb the price difference.
The frequent adjustments recorded within a short time frame reflect the growing strain on pricing in the downstream sector, largely influenced by movements in the global oil market and supply challenges.
Checks indicate that petrol prices at the refinery have surged significantly this month, rising from N774 per litre at the start of March to the current N1,275 per litre.
Analysts warn that the persistent increase may further expose the local fuel market to external shocks, despite expectations that domestic refining would help moderate costs.
The latest development is likely to push up pump prices across the country, with anticipated impacts on transport fares and the cost of living.
