The Dangote Petroleum Refinery has increased the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,175 per litre, prompting depot operators in several locations to temporarily suspend sales.

The latest adjustment comes just days after the refinery reduced the price by ₦100 per litre to ₦1,075 on March 10, 2026, from a previous price of ₦1,175 per litre.

Following the earlier reduction, depot operators had begun selling the product at an average price of about ₦1,100 per litre. However, the renewed increase has forced many operators to halt sales transactions while they review their pricing and inventory positions.

Industry sources indicated that loading operations at the refinery have also been temporarily suspended as the company reconciles existing stock and aligns distribution with the updated pricing structure.

The price revision is attributed to a recent surge in global crude oil prices. Brent crude, a key international benchmark, has climbed from about $91 to $100 per barrel, raising the cost of crude feedstock and, by extension, refining expenses.

Market analysts say fluctuations in global oil prices continue to influence domestic petrol pricing, despite the increasing role of local refining capacity in Nigeria’s fuel supply chain.