Breaking: Dangote raises petrol price, sets new retail rate at N839

Dangote Petroleum Refinery has announced a N100 per litre increase in the retail price of Premium Motor Spirit (PMS), marking a significant adjustment in Nigeria’s downstream petroleum market.

The refinery disclosed the price hike in a statement issued on Monday, confirming that its gantry price of petrol has risen to N799 per litre, while the recommended retail price now stands at N839 per litre nationwide.

This represents an increase from the N699 gantry price and N739 retail price that had been maintained since December 2025.

“Under the current alignment, the PMS gantry price is N799 per litre, while MRS retail outlets are selling at N839 per litre,” the company stated.

The Chief Executive Officer of Dangote Petroleum Refinery, David Bird, said the refinery continues to supply the domestic market with about 50 million litres of PMS daily, adding that nationwide evacuation and distribution are operating normally despite the price adjustment.

Industry data indicate that the refinery recently resorted to importing gasoline to support supply levels amid downtime at its Residual Fluid Catalytic Cracker (RFCC) unit, according to global energy intelligence firm Kpler.

As of Monday night, retail petrol prices at filling stations — including those operated by the Nigerian National Petroleum Company Limited (NNPCL) — ranged between N805 and N830 per litre across various locations.

Market analysts warn that Dangote Refinery’s latest price increase could trigger a broader rise in petrol prices across Nigeria’s downstream sector, given the refinery’s growing influence on domestic fuel supply.

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The development marks a shift from the refinery’s earlier pricing stance.

In December last year, the President of the Dangote Group, Aliko Dangote, said the company would maintain a N739 per litre retail price nationwide in a bid to edge out fuel importers and stabilise the market.

Speaking to journalists at the time, on Sunday, December 14, Dangote said: “We don’t want people to sell petrol for more than N740 nationwide.”

The latest increase underscores the mounting pressures in Nigeria’s fuel market, including production constraints, global supply dynamics and the challenge of sustaining price stability amid rising operational costs.