Dangote Refinery has increased the price of Premium Motor Spirit (PMS) by ₦70 per litre, bringing the new gantry price to ₦1,245.
This adjustment takes effect from March 21, 2026, and applies to all pending and yet-to-be-delivered orders.
The refinery attributes the hike to ongoing global geopolitical tensions, particularly the US-Iran conflict, disrupting crude oil markets and supply chains.
The coastal supply rate has also been revised upward, from ₦1,512,648 to ₦1,606,518 per metric tonne, indicating a broader trend of rising fuel-related costs.
Customers with valid bank guarantees can continue lifting products under existing agreements, but must pay the price differential, with outstanding balances due by March 23, 2026.
This development underscores Nigeria’s vulnerability to global energy market fluctuations, with potential ripple effects on transportation and goods pricing nationwide.
