Nigeria may be heading into another round of fuel crisis as the Dangote Petroleum Refinery has increased the ex-depot price of Premium Motor Spirit (PMS) by N75, raising fresh fears of nationwide pump price hikes and supply disruptions.
Industry data obtained from Petroleumprice.ng and confirmed by a senior official at the refinery on Wednesday showed that the new petrol loading price has jumped from N1200 to N1275 per litre, while coastal supply prices rose to N1,215 per litre.
The official, who confirmed the development to PUNCH, said, “Yes, the increase of PMS to N1,275 per litre is true. Coastal price is N1,215.”
The price adjustment comes alongside a sudden suspension of the refinery’s Proforma Invoice (PFI) system, a critical process that facilitates product loading and supply scheduling, effectively halting the sale of petrol and Automotive Gas Oil (diesel).
Sources familiar with the development told SaharaReporters that the disruption began around 4pm on Tuesday, forcing an immediate stop to product transactions across the refinery’s loading network.
The twin developments, price hike and supply interruption, have triggered panic across the downstream petroleum sector, with marketers and traders warning of imminent increases in depot and retail fuel prices.
Industry operators say such operational disruptions often escalate logistics and distribution costs, which are ultimately passed on to consumers already grappling with soaring living expenses.
The latest hike is also tied to rising global crude oil prices, which continue to push up the cost of refining.
As of Wednesday morning, Brent crude climbed to $114.80 per barrel, while West Texas Intermediate traded at $103.40, both recording significant gains amid escalating geopolitical tensions around the Strait of Hormuz, a key global oil supply route.
The surge in crude prices has increased feedstock costs for refiners like Dangote, forcing upward adjustments in refined petroleum product prices.
The development comes barely weeks after earlier warnings that petrol prices in Nigeria could skyrocket to as high as N3,000 per litre if current market conditions persist.
In March 2026, Dangote Refinery had already raised its gantry price for petrol multiple times within days, pushing it to N1,175 per litre, while diesel climbed to N1,620 per litre, developments that immediately reflected at filling stations, where petrol sold for as high as N1,400 per litre in some locations.
Despite the worsening situation, the Nigerian Presidency has yet to announce any concrete measures to cushion the impact on citizens.
Stakeholders in the sector have repeatedly called for urgent intervention to stabilise fuel prices, warning that continued volatility in global oil markets, combined with local supply challenges, could plunge millions of Nigerians into deeper economic hardship.
With the latest increase and supply disruption, fears are mounting that the country may be on the brink of another major fuel price shock
