Dangote Refinery has announced an increase in the price of Premium Motor Spirit (PMS), raising its gantry rate from ₦1,175 to ₦1,245 per litre.
The new price of fuel will be an increase of ₦70 per litre, and will take effect from 12:00 am on March 21, 2026. The adjustment will apply to all pending and undelivered product volumes.
In addition to the gantry price hike, the refinery also reviewed its coastal supply rate. The price was increased from ₦1,512,648 to ₦1,606,518 per metric tonne, reflecting broader changes in supply costs.
According to the refinery, the upward adjustment is linked to ongoing global geopolitical tensions, which continue to impact crude oil markets and refining expenses.
The company noted that customers operating under valid Bank Guarantees will still be able to lift products based on their existing agreements. However, such customers are required to pay the price difference resulting from the adjustment.
It further stated that all outstanding differential payments must be settled on or before March 23, 2026, to maintain supply continuity.
The latest increase marks another shift in domestic fuel pricing, as market dynamics and international factors continue to influence the cost of petroleum products in the country.
