The Dangote Refinery has adjusted the gantry price of its Premium Motor Spirit (PMS), commonly known as petrol, in response to rising global crude oil prices and escalating geopolitical tensions.
Checks conducted on Tuesday revealed that the refinery increased its petrol price from N1,200 to N1,275 per liter. This represents a N75 increase, or approximately a 5 percent rise in the gantry price from the $20 billion facility.
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This price adjustment follows a period of nearly a week where domestic fuel prices had remained stable despite significant volatility in the international crude oil market.
On Monday, Aliko Dangote, President of the Dangote Group, reassured the public of the refinery’s capacity to meet fuel demands across the continent, despite disruptions linked to international conflicts. “What I can do is assure Nigerians and most of West Africa, Central Africa, and East Africa that we have the capacity to supply them,” he stated during a tour of the plant.
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This recent increase contrasts with the refinery’s decision on March 27, 2026, when it reduced its gantry price for petrol in line with a drop in global oil prices at the time.
The price hike coincides with a surge in the crude oil market, with West Texas Intermediate (WTI) and Brent crude trading at $110 and $105 per barrel, respectively, at the time of this report. Market jitters have been further fueled by recent statements from U.S. President Donald Trump regarding potential escalations with Iran.
