Dangote’s partner station MRS, NNPC raise petrol price by N100/litre

2026-03-03 - 08:27

By Obas Esiedesa, Abuja Less than 24 hours after Dangote Petroleum Refinery & Petrochemicals raised the gantry price of Premium Motor Spirit (PMS), also known as petrol, by N100 per litre, its partner retail outlet, MRS Oil Nigeria Plc, and NNPC Limited have increased their pump prices by a similar margin. A market survey conducted by Vanguard on Tuesday morning in Abuja showed that several other filling stations also adjusted their pump prices upward. Checks revealed that MRS and NNPC Retail raised their pump price from N875 per litre on Monday to N975 per litre. AYM Shafa and AA Rano, however, increased their rates by N80, moving from N880 per litre to N960 per litre. Vanguard had reported on Monday that Dangote Petroleum Refinery increased its PMS gantry price by N100, bringing the ex-depot rate to N874 per litre from the previous N774, a development that has heightened concerns over fresh fuel price hikes nationwide. A senior refinery official, who confirmed the adjustment, explained that the decision was necessitated by recent volatility in global crude oil markets. “Yes, the price has been reviewed. The new gantry price is now N874 per litre, up from N774. The revision became necessary due to changes in global crude fundamentals and replacement costs,” the official said. Checks on petroleumprice.ng indicated that the new pricing has already been implemented, signalling a shift in downstream benchmarks that is likely to impact retail petrol prices across the country. The price increase followed the refinery’s suspension of petrol loading operations, effective midnight on March 2, 2026, after international crude oil prices surged past $80 per barrel overnight. Industry data showed that PMS loading and issuance of proforma invoices were temporarily halted, although the suspension applied only to petrol, with Automotive Gas Oil (diesel) continuing to load uninterrupted. The refinery’s move triggered a ripple effect across Nigeria’s downstream sector, with several private depot owners reportedly halting petrol sales during the trading day.