Dangote Petroleum Refinery has increased its Premium Motor Spirit (PMS) gantry price by N100, pushing the ex-depot rate to N874 per litre from N774, in a move that signals renewed upward pressure on petrol prices nationwide.

A senior refinery official confirmed the adjustment on Monday, attributing the revision to heightened volatility in global crude oil markets and rising replacement costs.

“Yes, the price has been reviewed. The new gantry price is now N874 per litre, up from N774. The revision became necessary due to changes in global crude fundamentals and replacement costs,” the official said.

Data from petroleumprice.ng showed that the new pricing template has already taken effect, effectively resetting downstream benchmarks and likely triggering higher pump prices across retail outlets.

The adjustment followed the refinery’s suspension of petrol loading operations effective midnight on March 2, 2026, after international crude prices climbed above $80 per barrel overnight.

Industry sources indicated that PMS loading and issuance of proforma invoices were temporarily halted, although Automotive Gas Oil (diesel) loading continued without disruption.

The development reverberated across Nigeria’s downstream market, with several private depot owners reportedly suspending PMS sales during the trading session.

“Several depot owners suspended PMS sales because of the crude rally. The market is already factoring in risk premiums. Nobody wants to sell below replacement cost,” a downstream operator said.

The refinery’s pricing decision underscores the sensitivity of Nigeria’s deregulated petrol market to global crude swings, with traders increasingly pricing in risk premiums amid tightening supply dynamics.