Dangote Refinery Raises Petrol Gantry Price to ₦875 Amid Global Oil Volatility

The Dangote Petroleum Refinery has increased its Premium Motor Spirit (PMS) gantry price by ₦101, moving the ex-depot rate from ₦774 to ₦875 per litre. This adjustment is expected to trigger fresh fuel price hikes nationwide.

Key Highlights

• 🔹 The refinery attributed the upward review to global crude oil price volatility and rising replacement costs.
• 🔹 Petrol loading operations were suspended on March 2 after crude surged past $80 per barrel, though diesel sales continued.
• 🔹 Several private depot owners also paused PMS sales, anticipating market realignment.
• 🔹 Analysts warn that if crude climbs beyond $90 per barrel, pump prices could approach ₦1,000 per litre in some areas.
• 🔹 The volatility is linked to geopolitical tensions between the U.S. and Iran, raising fears of supply disruptions around the Strait of Hormuz.

Dangote Refinery to Begin Nationwide Fuel Distribution

With Nigeria’s local refining capacity expanding, the refinery’s price shift underscores how global oil shocks still ripple through domestic markets, affecting consumers directly.

Written by Boom RadioNG