Pump prices of Premium Motor Spirit (PMS) have surged after Dangote Petroleum Refinary increased its ex-depot prices by N100 per liter, prompting MRS Oil Nigeria Plc, and NNPC Limited to adjust their pump prices by a similar margin.
A market survey on Tuesday in Abuja showed that several other filling stations also adjusted their pump prices upward.
Checks revealed that MRS and NNPC Retail raised their pump price from N875 per litre on Monday to N975 per litre. AYM Shafa and AA Rano, however, increased their rates by N80, moving from N880 per litre to N960 per litre.
The adjustment followed Dangote Refinary’s decision to raise it’s PMS gantry price from N774 to N874 per liter, citing volatility in global crude oil prices and rising replacement costs .
Checks on petroleumprice.ng indicated that the new pricing has already been implemented, signalling a shift in downstream benchmarks that is likely to impact retail petrol prices across the country.
The price increase followed the refinery’s suspension of petrol loading operations, effective midnight on March 2, 2026, after international crude oil prices surged past $80 per barrel overnight.
Industry data showed that PMS loading and issuance of proforma invoices were temporarily halted, although the suspension applied only to petrol, with Automotive Gas Oil (diesel) continuing to load uninterrupted.
The ripple effect has been felt across Nigeria’s downstream sector, with several private depot owners reportedly pausing petrol sales as the market responds to the new pricing structure.
