According to a report by The Punch on Saturday, March 7, 2026, Nigerians are set to face another round of financial pressure as the Dangote Petroleum Refinery announced a significant increase in its petrol gantry price.
The price of Premium Motor Spirit (PMS) jumped to N995 per litre on Friday night, marking a sharp N221 increase in just four days.
This sudden adjustment follows a series of hikes within the same week. Earlier, the refinery had moved its price from N774 to N874 per litre.
This latest leap to N995 is already reflecting on major industry portals, signaling a shift in how fuel will be priced at the pump across the country.
With this new development, energy experts predict that retail pump prices will soar above N1,050 per litre in many states. These figures will likely vary depending on transportation logistics and the profit margins of individual marketers.
A senior official at the refinery, speaking on condition of anonymity, confirmed the review, citing the volatility of global crude oil prices and rising replacement costs.
The refinery also experienced a temporary halt in loading operations earlier on Friday, a move that often precedes price changes in the downstream sector.
Interestingly, data from the Major Energies Marketers Association of Nigeria (MEMAN) reveals that imported petrol is currently about N64 cheaper than the locally refined product from Dangote.
While the refinery claims to have absorbed 20 percent of rising costs to protect the domestic market, the reality of a fully deregulated economy means prices will continue to fluctuate based on international market trends and foreign exchange rates.