Dangote Refinery Increases Petrol Price from N1,275 to N1,350 per Litre
Dangote Refinery has increased the ex-depot price of petrol by N75.00, bringing it to N1,350 per litre from N1,275.
This is the first fuel increase by the Refinery in May.
This latest development is coming seven days after the refinery raised its ex-depot price from N1,200 to N1,275 per litre.
According to the company’s senior official, the new gantry price has been implemented across all loading channels, forcing marketers to immediately adjust their pricing templates amid tight supply conditions and shifting cost realities.
He said, “The new pricing template has been activated across the board. All loading points have been updated, and marketers are already responding by adjusting their depot prices. This is not an isolated change; it reflects prevailing supply and cost pressures in the system.”
Amid the increases by the refinery, a senior management official disclosed that the company has been subsidising the petrol and diesel it sells to Nigerians.
The fresh increase also comes against the backdrop of a temporary halt in the issuance of pro forma invoices earlier this week, a development that market players say further constrained product availability and intensified upward price movements across the downstream value chain.
“The suspension of PFI created a short-term supply squeeze,” the official added. “When you combine that with international crude price movements and logistics costs, it becomes inevitable that depot prices will adjust upward. What we are seeing is a direct market response to those realities.”
Within the past month, Dangote Refinery has adjusted its petrol prices multiple times, reflecting changes in crude sourcing costs, foreign exchange pressures, and domestic distribution dynamics.
Do you think the removal of fuel subsidy is worth it as the petrol price keeps increasing? Do you support the call that fuel subsidy should be brought back by President Tinubu? Share your thoughts in the comment section.
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