The Dangote Refinery has once again adjusted the cost of Premium Motor Spirit, marking a fresh increase that is expected to ripple through the energy market. In this latest review, the refinery raised the gantry price of petrol from ₦1,175 to ₦1,245 per litre, representing a hike of ₦70.
This new pricing structure officially took effect at the stroke of midnight today, March 21, 2026. The management confirmed that these revised rates will apply to all volumes that are currently outstanding or yet to be loaded. Beyond the pump price adjustment, the facility also hiked its coastal supply rate, which moved from ₦1,512,648 to ₦1,606,518 per metric tonne.
The refinery pointed toward the ongoing and unpredictable global geopolitical tensions as the primary reason for the price shift. These international pressures continue to impact the broader energy sector, forcing local adjustments to maintain operational balance.
For marketers and distributors, there is a small window to manage the transition. The refinery clarified that customers who have valid Bank Guarantees can proceed with their current loading schedules. However, this is strictly on the condition that they settle the price difference resulting from the new hike.
All affected customers have been given a short deadline to regularize their accounts. The refinery has mandated that all differential payments must be fully settled by March 23, 2026. This move highlights the volatility currently facing the petroleum industry and the constant pressure on local refining costs amid global instability.
