Nigeria's Dangote Petrol Price Hits New High of N1,332

The price of Premium Motor Spirit (petrol) is set to rise to at least N1,332 per litre nationwide following a fresh increase by the Dangote Petroleum Refinery, marking the fifth upward review in March.

The adjustment was signalled by MRS Oil Nigeria Plc, which issued a new pricing template to dealers, setting pump price at N1,332 per litre, with company delivery at N1,290 and self-collection at N1,282 per litre.

The refinery also raised its ex-depot (gantry) price to N1,275 per litre, just hours after an earlier increase to N1,245, reflecting a rapid escalation in fuel costs. The revised prices took effect from midnight on March 21, 2026.

Data indicates a steep upward trend throughout the month. Prices climbed from N774 per litre at the start of March to N874, then N1,050, N1,175, N1,245, and now N1,275: a cumulative increase of N501 or about 64.7 per cent in less than three weeks.

Similarly, coastal prices rose from N1.51m to N1.64m per metric tonne, highlighting pressure from international pricing and freight costs.

The development underscores the growing dominance of the Dangote refinery in Nigeria’s fuel supply chain, as most product loading is now done directly from the facility.

Industry observers say the continued price surge is driven by global crude oil volatility and supply disruptions, including tensions in the Middle East, which have affected traditional supply routes.

The latest hike is expected to trigger immediate adjustments at filling stations nationwide, with likely knock-on effects on transportation fares, food prices, and overall cost of living.

Meanwhile, the refinery also increased the price of Automotive Gas Oil (diesel) to N1,750 per litre, signalling broader upward pressure across the energy market. As marketers begin to implement the new pricing, consumers across the country are bracing for another wave of inflationary impact.