The Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit, popularly called “petrol,” in naira, ending its brief dollar-denominated pricing regime while increasing its ex-depot price by N140 per liter.
The latest development comes one week after the 650,000-barrels-per-day refinery suspended truck loading of petrol and switched to dollar pricing, a decision that unsettled the downstream petroleum market, constrained supplies, and triggered a sharp increase in depot prices.
The resumption of naira transactions was communicated to marketers in a notice issued by the refinery’s commercial department on Wednesday and was independently confirmed by the industry platform PetroleumPrice. ng.
The notice showed that the gantry price of petrol increased from N1,075 per litre to N1,215 per litre, representing an increase of N140, or 13.02 per cent. The coastal loading price also rose from N1,441,575 per metric tonne to N1,602,495 per metric tonne.
The communication, titled PMS Price Change Communication, stated that the revised prices took immediate effect.
It read, “Please be advised that all unloaded gantry volumes will be subject to repricing at the new price, which is effective 22nd July 2026.
The notice signals the refinery’s return to naira-denominated domestic petrol sales after its brief migration to a dollar pricing regime that sparked concerns among marketers and consumers.
Petroleum price. ng also confirmed that customers had been notified of the resumption of gantry operations under the revised naira pricing template. “Yes, the refinery has returned to pricing its product in naira,” said the Chief Executive Officer of PetroleumPrice. ng, Jeremiah Olatide, said.
The refinery had suspended both gantry and coastal loading on July 15 while introducing dollar-denominated pricing for refined petroleum products, forcing marketers to source products from private depots where prices rose sharply as available volumes tightened.
During the suspension, the average ex-depot price of petrol at private depots reportedly climbed from about N1,075 per litre to approximately N1,275 per litre, representing an increase of N200, or about 18.6 per cent.
