Fuel Shock: MRS Oil Nigeria Plc, NNPC Limited raise petrol price by N100 after Dangote hike

Less than 24 hours after Dangote Petroleum Refinery & Petrochemicals raised its gantry price of Premium Motor Spirit (PMS) by N100 per litre, its partner retail outlet, MRS Oil Nigeria Plc, and NNPC Limited have followed suit, pushing pump prices up by the same margin.

A market survey conducted Tuesday morning in Abuja revealed that the ripple effect was immediate, with several filling stations adjusting their prices upward amid growing concerns of a fresh nationwide fuel hike.

Checks showed that MRS and NNPC Retail increased their pump price from N875 per litre on Monday to N975 per litre. Meanwhile, AYM Shafa and AA Rano implemented slightly lower adjustments, raising their rates by N80 from N880 per litre to N960 per litre.

The development comes on the heels of Monday’s announcement that Dangote Petroleum Refinery increased its PMS gantry price by N100, moving the ex-depot rate from N774 to N874 per litre, a decision that has intensified anxiety in the downstream sector.

Confirming the adjustment, a senior refinery official cited global market pressures as the driving force behind the hike. “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.

Data from petroleumprice.ng indicated that the revised pricing template had already taken effect, signalling a shift in downstream benchmarks likely to cascade across retail outlets nationwide.

The price increase followed the refinery’s suspension of petrol loading operations effective midnight, March 2, 2026, after international crude oil prices surged past $80 per barrel overnight.

Industry sources disclosed that PMS loading and issuance of proforma invoices were temporarily halted, though the suspension was limited to petrol, with Automotive Gas Oil (diesel) loading continuing without interruption.

The refinery’s decision sent shockwaves through Nigeria’s downstream market, with several private depot owners reportedly suspending petrol sales during the trading day, further tightening supply expectations.

With global crude volatility persisting, stakeholders warn that unless market fundamentals stabilise, consumers may face sustained pressure at the pumps in the coming weeks.