The Dangote Petroleum Refinery has adjusted the ex-depot price of petrol to ₦1,175 per litre, prompting several depot operators to temporarily suspend sales.
The refinery had earlier reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦100 to ₦1,075 per litre 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 latest increase forced many operators to pause transactions while adjusting to the new pricing structure.
Sources indicated that the refinery also temporarily halted loading operations to reconcile stock levels and align its distribution system with the updated price.
The adjustment comes amid rising global crude oil prices, with Brent Crude climbing from about $91 to $100 per barrel, a development that has increased the cost of refining petroleum products.
Industry observers say the price revision could further affect pump prices across Nigeria if the trend in global oil markets continues.