Dangote Refinery Announces Fourth Petrol Price Hike in March 2026
By 𝔸bdulrazak Tomiwa
The Dangote Petroleum Refinery has announced a fresh upward adjustment of its petrol price, marking the fourth increase in March 2026 alone.
In a notice issued on Friday, the refinery informed petroleum marketers that the gantry (ex-depot) price of Premium Motor Spirit (PMS) has risen from N1,175 per liter to N1,245 per liter.
This latest price hike took effect on Saturday, March 21, 2026. The refinery also adjusted its coastal price, which climbed from N1,512,648 to N1,606,518 per metric tonne. This rapid succession of increases has seen the price jump from N774 to N1,245 within a single month.
The management of the 650,000-barrel-per-day refinery attributed the hike to the escalating geopolitical tensions in the Middle East.
The ongoing conflict involving Iran, the United States, and Israel has caused a significant surge in global crude oil benchmarks, with Brent crude hitting $112 per barrel.
Spokespersons for the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) confirmed the new rates. They noted that the refinery’s price directly dictates the landing cost for domestic distributors who rely on the facility for supply.
The price adjustment is expected to trigger immediate increases at retail filling stations across Nigeria. Analysts predict that pump prices in cities like Abuja could surge to between N1,331 and N1,400 per liter, up from the N1,260 range seen just a day prior.
The refinery’s role in Nigeria’s energy security has become increasingly critical, as it provided 61 percent of the country’s total domestic petrol supply in February 2026. However, its pricing remains fully exposed to international market volatility because crude is purchased at global benchmark rates.
In addition to domestic pressure, the refinery is currently facing a surge in demand from other African nations like South Africa and Ghana. These countries are turning to the Nigerian facility to secure fuel supplies as the Middle East conflict disrupts traditional global trade routes.
