The Dangote Petroleum Refinery has raised its Premium Motor Spirit gantry price by N101, bringing the ex-depot pricing from N774 to N875 per litre, sparking fears of further fuel price increases across the country.
A senior refinery official confirmed the development on Monday, citing recent volatility in global crude oil prices.
The price increase came shortly after the refinery suspended petrol loading operations effective midnight on March 2, 2026, following a sharp surge in international crude oil prices, which crossed the $80 per barrel threshold overnight.
Data obtained from industry sources showed that Premium Motor Spirit loading stopped at exactly midnight, halting product lifting and the issuance of proforma invoices, indicating that fresh transactions were temporarily paused.
However, the suspension applied strictly to petrol, as Automotive Gas Oil, popularly known as diesel, continued to load.
The refinery’s action prompted a coordinated response from the downstream sector, with several private depot owners across the nation suspending fuel sales during the trading day.
