The Dangote Refinery has increased its ex-depot price of Premium Motor Spirit by N75 per litre, deepening concerns over a fresh round of fuel price hikes across the country, as it also suspended product sales following a disruption in its Proforma Invoice process.
Price data obtained from Petroleumprice.ng and confirmation from a Dangote refinery official on Wednesday revealed that the refinery raised its petrol loading price from N1,200 per litre to N1,275 per litre, while coastal supply prices climbed to N1,215 per litre.
The development, which took effect amid operational adjustments, is already sending shockwaves through the downstream petroleum market.
The official confirmed the development, saying, “Yes, the increase of PMS to N1,275 per litre is true. Coastal price is N1,215.”
Another source familiar with the situation disclosed that the refinery halted its Proforma Invoice entry process at about 4:00 pm on Tuesday, effectively disrupting normal supply scheduling across its loading system.
The suspension, according to the sources, led to an immediate stoppage of both petrol and Automotive Gas Oil sales.
The suspension and price adjustment have triggered rapid reactions among traders and marketers, many of whom are now bracing for higher depot costs and a possible increase in pump prices nationwide.
