JUST IN: Dangote hikes petrol worth fifth time in March to N1,275/litre

Barely hours after rising its gantry worth for the fourth time within the month of March, the Dangote Petroleum Refinery has once more raised its ex-depot worth of Premium Motor Spirit (petrol) to N1,275 per litre, signalling deepening volatility in Nigeria’s deregulated downstream sector.

The most recent adjustment represents a N100 enhance from the N1,175 per litre offered earlier within the month, translating to an 8.5 per cent rise, whereas it additionally displays a N30 bounce from the N1,245 per litre introduced simply hours earlier on Friday evening.

It mentioned the value checklist despatched in its earlier correspondence is not relevant.

The refinery additionally elevated its coastal worth from N1,512,648 per metric tonne to N1,646,748 per metric tonne, indicating a distinction of N134,100, or an 8.9 per cent rise.

In a discover despatched to entrepreneurs and prospects obtained by our correspondent on Saturday morning, the refinery urged stakeholders to ignore earlier pricing templates.

The discover learn, “Pricey Valued Buyer, kindly observe that the costs contained in our earlier correspondence are not relevant and ought to be disregarded.

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

The corporate harassed that the brand new worth regime takes speedy impact.

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

The refinery, nevertheless, clarified that prospects working underneath current credit score preparations would nonetheless be accommodated, topic to masking the value distinction.

“For patrons with a legitimate Financial institution Assure with DPRP, loading will proceed with current ATCs/PRN (if any) offered the BG credit score steadiness covers the value change differential,” the agency defined.

The fast succession of worth changes inside a single day underscores the depth of pricing pressures at the moment going through the market.

The hike underscores the continued vulnerability of Nigeria’s gas market to worldwide crude oil worth 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 instances in March, reflecting a steep upward trajectory pushed by world oil market dynamics.

At first of March, the refinery raised its gantry worth 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 worth rose from N1,512,648 to N1,646,748 per metric tonne.

On March 2, the refinery raised its gantry worth from N774 per litre to N874 per litre, marking a N100 enhance, representing about 12.9 per cent. This was adopted by one other upward assessment to N1,050 per litre, indicating an additional N176 rise from N874, or roughly 20.1 per cent.

Inside days, the value climbed once more to N1,175 per litre, reflecting an extra N125 enhance from N1,050, or about 11.9 per cent. On Friday, March 20, the refinery introduced a recent hike to N1,245 per litre, a N70 enhance, representing roughly 6.0 per cent.

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

Cumulatively, the refinery’s gantry worth has surged by N501 per litre from N774 in the beginning of the month to N1,275, representing a pointy enhance of roughly 64.7 per cent inside lower than three weeks.

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

The brand new coastal worth 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 most recent enhance is anticipated to set off a recent wave of pump worth changes throughout the nation, with transport fares and commodity costs more likely to rise in response.

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

At the least 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 struggle proceed to choke world gas provide chains.

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

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