The price of Premium Motor Spirit (petrol) is set to rise to at least N1,332 per litre nationwide, following a fresh upward review by marketers in response to recent hikes by the Dangote Petroleum Refinery. MRS Oil Nigeria Plc issued a new pricing template to its dealers on Saturday, setting the pump price at N1,332 per litre, company delivery at N1,290, and self-collection at N1,282 per litre.
The adjustments come after Dangote Refinery revised its ex-depot gantry price to N1,275 per litre in its fifth increase in March alone, reflecting a cumulative rise of N501 per litre from N774 at the start of the month, or approximately 64.7 per cent. Coastal prices also rose from N1,512,648 per metric tonne to N1,646,748, an increase of N134,100 or 8.9 per cent.
The refinery stressed that the new prices are effective from midnight on March 21, 2026, and instructed stakeholders to disregard previous pricing notices. Customers with valid Bank Guarantees may continue lifting products under existing approvals provided the price differential is covered.
The rapid succession of price hikes highlights the vulnerability of Nigeria’s fuel market to global crude oil volatility and supply chain disruptions. Analysts warn that the latest increases are likely to push transport fares and commodity prices higher, affecting households and businesses across the country.
The refinery also raised the price of Automotive Gas Oil (sel) to N1,750 per litre, marking a N250 jump from the previous N1,500 per litre. This continued upward trend in energy costs has immediate implications for logistics, transport, and industrial operations nationwide.
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