Dangote Petroleum Refinery has resumed the loading of Premium Motor Spirit (PMS), popularly known as petrol, in naira after suspending the process for about a week, while increasing its ex-depot price to ₦1,215 per litre.
The refinery’s new gantry price represents an increase of ₦140 per litre, or about 13 per cent, from its previous price of ₦1,075 per litre.
The latest adjustment comes amid a sharp rise in global crude oil prices, which has significantly increased the cost of refining petroleum products.
According to market data, Brent crude rose to $93.90 per barrel, while West Texas Intermediate (WTI) climbed to $86.65 per barrel, putting additional pressure on fuel production costs.
Industry sources confirmed that marketers have been informed of the resumption of truck loading under the revised naira pricing structure.
The refinery had earlier suspended naira-denominated sales, citing difficulties in securing enough crude oil through the Federal Government’s naira-for-crude initiative, forcing it to temporarily switch to dollar-based transactions.
With the return to naira sales, stakeholders expect an improvement in petrol supply across the country after recent disruptions forced many independent marketers to rely on private depots.
However, the increase in the ex-depot price has already triggered fresh price adjustments across several fuel depots.
In Lagos and other major supply hubs, depot prices increased significantly, with some suppliers raising prices by as much as ₦87 per litre.
At Bulk Strategic Reserve in Lagos, the ex-depot price rose to ₦1,350 per litre, making it one of the highest-priced suppliers in the country.
Several other depots, including Liquid Bulk, Masters Energy, Matrix and Sigmund, also adjusted their prices upward.
The development has also affected retail prices, with many filling stations in Lagos and surrounding areas now selling petrol for between ₦1,300 and ₦1,400 per litre.
Analysts say the latest increase could lead to higher transportation costs, rising food prices and increased operating expenses for businesses across the country.
