Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (PMS), also known as petrol, from N1,200 to N1,275 per litre.
Dangote
The development represents an increase of N75 per litre and is expected to impact prices across the downstream petroleum market.
Industry pricing data obtained from Petroleumprice.ng on Wednesday, alongside confirmation from a refinery official, showed that the coastal supply price also rose to N1,215 per litre.
A refinery official confirmed the adjustment.
“Yes, the increase of PMS to N1,275 per litre is true. Coastal price is N1,215,” the official said.
Sources familiar with operations at the refinery also disclosed that the company temporarily suspended its Proforma Invoice (PFI) entry process on Tuesday.
According to one of the sources, the suspension occurred around 4 p.m. on April 28, disrupting the refinery’s normal supply scheduling and loading operations.
The source said the development led to an immediate halt in the sale of petrol and Automotive Gas Oil (AGO).
The reason for the suspension was not immediately disclosed.
Market analysts said the price increase and temporary sales disruption could trigger higher depot costs for marketers and potentially lead to an upward review of retail pump prices nationwide.
The development comes amid continued volatility in Nigeria’s petroleum supply chain and pricing structure following deregulation in the downstream oil sector.
Marketers and traders are expected to closely monitor further pricing decisions by the refinery in the coming days.
