Dangote Petroleum Refinery has raised the ex-depot price of Premium Motor Spirit (petrol) by N100, bringing the gantry rate to N874 per litre from the previous N774, refinery officials confirmed on Monday.

The price change comes as the refinery adjusts to recent shifts in the global crude oil market. The increase follows a suspension of petrol loading operations that took effect at midnight on March 2, 2026, after international crude oil prices rose above $80 per barrel.

A senior official at Dangote Petroleum Refinery told Vanguard that the review of the ex-depot price was due to changes in global crude fundamentals and higher replacement costs.

“Yes, the price has been reviewed. The new gantry price is now N874 per litre, up from N774. The revision became necessary due to changes in global crude fundamentals and replacement costs,” the official said.

The revised pricing has already been reflected on petroleumprice.ng, indicating that downstream benchmarks across the country have shifted accordingly.

Industry checks showed that the refinery temporarily halted petrol loading and the issuance of proforma invoices when international crude prices surged, although the suspension applied only to petrol while diesel continued to load without interruption.

Following the refinery’s decision, several private depot owners reportedly stopped selling petrol during the trading day, reflecting a broader market reaction to the pricing change.

A downstream operator said depot owners were reluctant to sell below the replacement costs in the current market environment.