JUST IN: Petrol Price Increases Overnight as Dangote Refinery Hikes Fuel Again
Petrol prices have gone up again after Dangote Refinery announced a fresh increase in its fuel loading cost.
The adjustment took effect in the early hours of Saturday, March 21, 2026, pushing up the gantry price of Premium Motor Spirit (PMS).
In the notice sent to its customers, the refinery raised the price from ₦1,175 to ₦1,245 per litre. This marks an increase of ₦70 per litre.
The new rate applies immediately and covers all pending and yet-to-be-loaded orders.
The refinery also reviewed its coastal supply pricing. The cost moved from ₦1,512,648 to ₦1,606,518 per metric tonne. This change affects bulk buyers who depend on marine supply channels.
The company linked the increase to ongoing global geopolitical tensions. These pressures continue to impact crude oil prices and supply chains. Industry watchers say the adjustment may reflect rising international costs and market instability.
Customers with valid Bank Guarantees have been allowed to continue lifting products under existing agreements. However, they are required to pay the price difference. The refinery stated that all outstanding balances must be cleared on or before March 23, 2026.
The development is expected to trigger a ripple effect across the downstream sector. Retail pump prices may rise in the coming days as marketers adjust to the new cost.
There are already concerns among transport operators and small business owners. Many fear another round of price hikes in goods and services.
