The Dangote Petroleum Refinery has increased the price of Premium Motor Spirit (PMS), commonly known as petrol, citing the escalating geopolitical crisis in the Middle East.
In a notice issued to marketers on Friday night, the refinery announced that its ex-depot (gantry) price has risen from ₦1,175 per litre to ₦1,245 per litre, representing an increase of ₦70 per litre.
The company also adjusted its coastal price, raising it from ₦1,512,648 per metric tonne to ₦1,606,518 per metric tonne.
According to the notice, the price review was necessitated by developments in the global geopolitical environment.
“Please be informed that due to the current global geo-political situation which has further escalated, the PMS gantry and coastal price has been reviewed and updated,” the statement read.
The refinery further clarified that the revised pricing structure would take effect from midnight on Saturday, March 21, 2026, and would apply to all unloaded gantry and coastal volumes.
The adjustment is expected to have implications for fuel prices across the country, as marketers respond to the new ex-depot rates.
