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Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS), popularly known as petrol, in naira after a week-long suspension, fixing its new ex-depot price at N1,215 per litre.
The resumption ends uncertainty in the downstream petroleum sector following the refinery's temporary shift to dollar-denominated sales and is expected to improve fuel availability across the country.
The new gantry price represents an increase of N140 per litre, or 13.02 per cent, from the previous ex-depot price of N1,075 per litre.
The upward adjustment follows a sharp rise in global crude oil prices, which has increased the cost of refining petroleum products, including petrol, diesel and aviation fuel.
Market data showed that Brent crude rose to $93.90 per barrel, while West Texas Intermediate (WTI) climbed to $86.65 per barrel, adding pressure to fuel prices in both domestic and international markets.
Industry sources confirmed that petroleum marketers had been notified of the resumption of truck loading under the revised naira pricing regime, with loading expected to commence immediately.
The development comes barely 24 hours after the 650,000 barrels-per-day refinery resumed coastal loading of petrol at a higher price, increasing its coastal loading rate from $1,044.62 to $1,161.23 per metric tonne, an 11.2 per cent increase.
Dangote Refinery had suspended naira truck loading over challenges in securing sufficient crude supplies under the Federal Government's naira-for-crude arrangement, forcing many independent marketers to source products from private depots.
The disruption tightened supply and pushed ex-depot prices in Lagos to as high as N1,275 per litre, significantly above the refinery's previous gantry price.
The refinery's return to naira transactions is expected to ease supply constraints in the inland market and support wider distribution of petroleum products nationwide.
Meanwhile, depot prices continued to rise across major supply hubs, including Lagos, Port Harcourt, Warri and Calabar, with some operators increasing prices by as much as N87 per litre.
The sharpest increase was recorded at Bulk Strategic Reserve in Lagos, where the ex-depot price rose to N1,350 per litre from N1,263 per litre. Other depots, including Liquid Bulk, Masters Energy, Matrix and Sigmund, also adjusted prices upward to about N1,280 per litre.
Retail pump prices have also increased, with many filling stations in Lagos and neighbouring areas now selling petrol for between N1,300 and N1,400 per litre, raising fresh concerns over transportation costs, inflation and the overall cost of living.
