The Dangote Refinery has increased its depot price for Premium Motor Spirit (PMS) to N1,350 per litre, marking a N75 rise from the previous N1,275 per litre.
Reports said a senior official of the refinery confirmed that the adjustment has been implemented across all loading channels.
“The new pricing template has been activated across the board. All loading points have been updated, and marketers are already responding by adjusting their depot prices,” the official said.
The latest increase comes barely a week after the refinery raised its ex-depot price from N1,200 to N1,275 per litre, indicating a rapid shift in pricing within the downstream sector. It is the second N75 increment recorded within seven days.
Industry sources attributed the adjustment to a combination of supply challenges, international crude price movements, and logistics costs.
A market source also noted that the recent suspension of the issuance of pro forma invoices (PFI) disrupted supply scheduling and contributed to tighter product availability.
“The suspension of PFI created a short-term supply squeeze. When combined with global crude trends and logistics costs, depot prices adjusted accordingly,” the source said.