Dangote Petroleum Refinery has resumed the loading of Premium Motor Spirit (PMS) in naira after suspending the practice for about a week, bringing an end to uncertainty over its temporary shift to dollar-denominated sales.
The refinery has fixed a new ex-depot (gantry) price of N1,215 per litre, an increase of N140, or 13.02 per cent, from the previous N1,075 per litre.
The price adjustment follows a sharp rise in global crude oil prices, which has increased the cost of producing refined petroleum products. On Wednesday, Brent crude climbed 3.18 per cent to $93.90 per barrel, while West Texas Intermediate (WTI) rose 2.74 per cent to $86.65 per barrel.
Industry sources said marketers have been informed of the resumption of gantry loading under the revised naira pricing structure, a move expected to improve fuel availability after recent supply disruptions.
Dangote Refinery had earlier suspended naira sales, citing challenges in securing sufficient crude oil supplies under the Federal Government’s naira-for-crude initiative, which prompted a temporary switch to dollar-based transactions.
Meanwhile, depot prices of petrol increased across major supply centres, including Lagos, Port Harcourt, Warri and Calabar, on July 22, 2026.
The largest increase was recorded at Bulk Strategic Reserve in Lagos, where the ex-depot price rose by N87 per litre to N1,350, up from N1,263. Other Lagos depots, including Liquid Bulk, Masters Energy, Matrix and Sigmund, also raised prices by between N15 and N17 per litre, bringing their rates to about N1,280 per litre.
The increases have also been reflected at filling stations, with petrol now selling for an average of N1,350 per litre, up from N1,260 per litre, across many outlets in Lagos and surrounding areas. Some stations have adjusted pump prices to between N1,300 and N1,400 per litre, raising concerns over the impact on transportation costs, food prices and the overall cost of living.
