
The Dangote Petroleum Refinery has resumed sales of Premium Motor Spirit (PMS), commonly called petrol, after a one-week suspension, introducing a new ex-depot price of N850 per litre, up from N820.
This N30 hike, representing a 3.66 per cent increase, has sparked concerns over a potential rise in pump prices nationwide. According to data from petroleumprice.ng, the new rate took effect on Thursday as loading operations restarted at the 650,000-barrels-per-day facility in the Lekki Free Trade Zone, Lagos.
Last week it was reported an abrupt halt in petrol sales at the multi-billion-dollar plant, a move that unsettled the downstream market and triggered price volatility. In an internal notice titled *“Important Update on DPRP Collection Account for PMS”*, the refinery had directed marketers to suspend all payments for petrol loading, effectively freezing allocations pending further updates.
With operations now back online, the ex-depot price has risen to N850, signalling a possible increase in pump prices across the country in the coming days. Though no official public statement has been issued on the increment, industry sources link it to fluctuations in global crude oil prices. Dangote Refinery is said to source about half of its crude feedstock from the United States, making it susceptible to international market shifts.
Despite the upward adjustment in petrol pricing, the refinery has maintained its competitive diesel rates, selling Automotive Gas Oil at N990 per litre to bulk buyers — still below the N1,030 average charged by private depots in Lagos and other parts of the country.
The PUNCH