fifth time in March: Petrol hits N1,332 as Dangote hikes value once more

The value of Premium Motor Spirit (petrol) at retail filling stations is about to rise to no less than N1,332 per litre nationwide, following a recent upward assessment by entrepreneurs in response to the newest hike by the Dangote Petroleum Refinery.

This comes as MRS Oil Nigeria Plc issued a brand new pricing template to its sellers, signalling what might change into the brand new benchmark for pump costs throughout the nation.

In a communication to sellers on Saturday, the corporate introduced a revised pump value of N1,332 per litre, whereas firm supply was fastened at N1,290 per litre and self-collection at N1,282 per litre.

The discover learn, “Please be told that our PMS value has been revised as detailed beneath. Kindly impact modifications the place mandatory: Pump Worth: N1,332, Firm Supply: N1,290 Self assortment: N1,282. Additionally notice that the portal is open to position orders and also you’re inspired to take action. The minimal amount for firm supply is 50,000 litres.”

The corporate said that every one product loading could be accomplished on the Dangote refinery, underscoring the ability’s rising dominance within the nation’s gasoline provide chain.

The event adopted a recent improve within the refinery’s ex-depot value, which was raised to N1,275 per litre in its fifth upward assessment in March alone.

Barely hours after saying an earlier improve to N1,245 per litre, the refinery once more revised its gantry value upward by N30, representing a 2.4 per cent rise, and a N100 improve from the N1,175 per litre bought earlier within the month.

It additionally adjusted its coastal value from N1,512,648 per metric tonne to N1,646,748 per metric tonne, reflecting a rise of N134,100, or 8.9 per cent.

In a discover despatched to entrepreneurs and clients on Saturday, the refinery directed stakeholders to ignore earlier pricing.

“Pricey valued buyer, kindly notice that the costs contained in our earlier correspondence are now not relevant and needs to be disregarded.

“Please discover beneath the present DPRP PMS gantry and coastal costs. The refinery elevated its coastal value from N1,512,648 to N1,646,748 per metric tonne, whereas the gantry value rose from N1,175 to N1,275 per litre,” it stated.

The refinery added that the revised costs took impact from midnight on March 21, 2026.

“Please notice that the revised value will apply to all unloaded gantry and coastal volumes and is efficient from 12am on the twenty first of March 2026,” the corporate said.

It additionally clarified that clients with legitimate Financial institution Ensures would proceed lifting merchandise below current approvals, supplied they coated the worth differential.

“For purchasers with a legitimate Financial institution Assure with DPRP, loading will proceed with current ATCs/PRN (if any) supplied the BG credit score steadiness covers the worth change differential,” it added.

The fast succession of value changes inside a single day underscores the depth of pricing pressures presently dealing with the market.

The hike underscores the continued vulnerability of the nation’s gasoline market to worldwide crude oil value volatility and provide chain disruptions, regardless of the approaching on stream of the Dangote refinery, which was anticipated to stabilise home provide.

Findings by our correspondent utilizing petroleumprice.ng confirmed that the Dangote refinery has adjusted petrol costs 5 occasions in March, reflecting a steep upward trajectory pushed by world oil market dynamics.

At the start of March, the refinery raised its gantry value from N774 per litre on March 2 to N874, earlier than subsequent will increase to N1,050 N1,175, N1,245, and now N1,275 per litre, whereas the coastal value rose from N1,512,648 to N1,646,748 per metric tonne.

This was adopted by one other leap to N1,050 per litre, representing a N176 improve from N874, or about 20.1 per cent.

Inside days, the worth climbed once more to N1,175 per litre, including N125, or 11.9 per cent.

On March 20, the refinery elevated the worth to N1,245 per litre, a N70 rise, representing roughly 6.0 per cent.

Hours later, the newest adjustment pushed the worth additional to N1,275 per litre, including one other N30, or 2.4 per cent.

Cumulatively, the gantry value has surged by N501 per litre from N774 at first of the month to N1,275, representing a pointy improve of roughly 64.7 per cent in lower than three weeks.

Equally, coastal costs have adopted an upward pattern, rising from round N1.45m per metric tonne earlier within the month to N1.646m, reflecting sustained stress on worldwide product pricing and freight prices.

The brand new coastal value moved from N1,512,648 per metric tonne to N1,646,748 per metric tonne, reflecting a rise of N134,100, or about 8.9 per cent.

The newest improve is predicted to set off a recent wave of pump value changes throughout the nation, with transport fares and commodity costs more likely to rise in response.

The fast succession of value hikes underscores the continued vulnerability of Nigeria’s gasoline market to world crude oil volatility and provide disruptions, regardless of the approaching on stream of the Dangote refinery.

The event comes amid a requirement surge a number of African governments have begun aggressive outreach to the 650,000-barrel-per-day facility.

A minimum of three African international locations, South Africa, Ghana, and Kenya, have formally reached out to the refinery, whereas a number of others are making enquiries, as disruptions linked to the Iran conflict proceed to choke world gasoline provide chains.

The refinery is seeing a big surge in inquiries as conventional provide routes from the Center East face unprecedented disruptions.

The refinery, nonetheless, maintained that the adjustment was essential to replicate prevailing market realities, stressing that the pricing assessment was pushed by exterior elements past its management.

As entrepreneurs start to implement the brand new charges, customers throughout the nation are anticipated to really feel the affect nearly instantly at filling stations.

In the meantime, the Dangote Refinery has as soon as once more adjusted its pricing template, elevating the gantry value of Automotive Fuel Oil (diesel) to N1,750 per litre.

The event indicators a continued upward pattern in power prices, with fast implications for transport, logistics, and industrial operations throughout the nation.

The brand new value marks a pointy N250 leap from N1,500 per litre, which had solely just lately been elevated from N1,430 about one week in the past.

The fast sequence of changes highlights the volatility presently shaping Nigeria’s downstream petroleum market.