The Dangote Refinery has raised the ex-depot price of Premium Motor Spirit (petrol) by N75 per litre, heightening concerns over a possible increase in fuel pump prices across Nigeria.
The refinery adjusted its petrol loading price from N1,200 per litre to N1,275 per litre, while coastal supply prices rose to N1,215 per litre, according to market data from Petroleumprice.ng and confirmation from a refinery official on Wednesday.
The price review comes alongside a temporary suspension of product sales following a disruption in the refinery’s Proforma Invoice (PI) processing system, a key operational platform used for scheduling fuel loading and distribution.
A refinery official confirmed the adjustment, stating: “Yes, the increase of PMS to N1,275 per litre is true. Coastal price is N1,215.”
Sources within the industry also disclosed that the PI system was shut down at about 4:00 p.m. on Tuesday, resulting in an immediate halt in the sale and loading of petrol and Automotive Gas Oil (diesel).
The development has triggered uncertainty among marketers and fuel distributors, many of whom depend on the refinery for daily supply. Operators say such disruptions often translate into higher logistics costs and tighter supply conditions, which can quickly reflect in retail pump prices nationwide.
The situation is further compounded by rising global crude oil prices, which continue to put pressure on refiners and downstream operators.
As of Wednesday morning, Brent crude was trading at $114.80 per barrel, up 3.15 percent, while West Texas Intermediate (WTI) stood at $103.40 per barrel, marking a 3.49 percent increase.
Analysts attribute the global oil price surge to heightened geopolitical tensions and supply risks affecting key shipping routes, including the Strait of Hormuz, a critical corridor for global crude transportation.
The increase in crude prices has raised production costs for refiners, leading to upward adjustments in refined petroleum product pricing across markets.
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