Dangote Petroleum Refinery has increased its Premium Motor Spirit gantry price from N774 to N874 per litre, the company confirmed on Monday, marking a N100 rise in its ex-depot pricing structure.
Dangote Petroleum Refinery is Nigeria’s largest private refining facility and a key supplier of petroleum products in the country.
Gantry price refers to the ex-depot price at which refined petrol is sold to marketers and distributors before it is moved to retail outlets.
Pricing adjustments by major refining players often influence downstream fuel prices across Nigeria.
Premium Motor Spirit is commonly referred to as petrol. Changes in ex-depot prices can result from fluctuations in global crude oil markets, replacement costs, and sector supply conditions.
A senior official of Dangote Petroleum Refinery confirmed to Vanguard that the new gantry price for Premium Motor Spirit is now N874 per litre, up from the previous rate of N774 per litre.
The official said the revision was necessary due to recent volatility in global crude oil markets and rising replacement costs.
Checks on industry price tracking platforms indicate that the revised pricing has already taken effect, suggesting that the change may influence petrol retail pricing across various states in Nigeria.
The report noted that petrol loading and issuance of proforma invoices for the product were temporarily halted after the increase was announced.
This suspension applied only to petrol, while diesel operations continued without interruption.
The source also said that several private depot owners have temporarily stopped petrol sales following the refinery’s price adjustment, as the market factors in cost and risk premiums under current conditions.
The increase in gantry pricing at Dangote Petroleum Refinery may affect petrol distribution dynamics in Nigeria’s downstream petroleum sector.
Marketers and depot operators are adjusting to the new price structure, and further movement in retail fuel prices could follow as distribution chains respond to the revised benchmark.
