Dangote Refinery Suspends Petrol Loading Amid Speculation of Imminent Price Hike.

Dangote Refinery Suspends Petrol Loading Amid Speculation of Imminent Price Hike.

The Dangote Petroleum Refinery has temporarily halted the loading and sales of Premium Motor Spirit (PMS, or petrol) at its Lekki facility, instructing queued tanker drivers to vacate the premises until further notice.Industry sources confirmed to multiple outlets, including Petroleumprice.ng and Legit.ng, that petrol truck-out operations were suspended around 2:00 a.m. WAT on Friday, March 6, 2026 (with some reports aligning the pause to recent days leading into March 8).

The move follows a pattern observed in the refinery's operations: brief halts in petrol loading have frequently preceded upward adjustments to its ex-depot (gantry) price.This latest suspension has sparked widespread expectations in Nigeria's downstream sector that the refinery may announce another price increase as early as Monday, March 9, 2026. Marketers, depot operators, and bulk buyers are closely monitoring developments, as Dangote's pricing often sets the benchmark for national retail rates.The pattern is evident from recent adjustments:On March 2, 2026, following a suspension of petrol loading effective midnight that day—triggered by global crude oil prices surging past $80 per barrel—the refinery raised its ex-depot PMS price by ₦100–₦101 (sources vary slightly) from ₦774 to ₦874–₦875 per litre.

Just days later, around March 6, another brief halt preceded a further hike of ₦121, pushing the gantry price to ₦995 per litre—a cumulative increase of ₦221 (about 29%) from the earlier ₦774 level within roughly four days.

The refinery has attributed these revisions to volatility in international crude markets, including freight costs and replacement expenses, exacerbated by the ongoing U.S.-Israel military operations against Iran, which have driven Brent crude higher. In one statement, Dangote noted that crude landing costs had risen to between $88–$91 per barrel (including freight), compared to around $68 when the price was ₦774/litre.While the current suspension applies specifically to petrol, diesel (Automotive Gas Oil) loading has continued in some prior instances without interruption. The halt has already influenced related markets: depot operators in Lagos reportedly increased diesel prices to around ₦1,200 per litre following a similar pause earlier in the week.Stakeholders remain vigilant, as these recurring loading pauses—often short-lived—have consistently signaled impending price reviews. Retail pump prices, which incorporate transportation, margins, and other costs, could climb toward or beyond ₦1,050 per litre in various locations if a new hike is confirmed.Dangote Refinery officials have not yet issued a formal statement on the current suspension or any forthcoming adjustment. The facility, Africa's largest single-train refinery with a capacity of 650,000 barrels per day, continues to position itself as a key domestic supplier amid global disruptions, with offtake agreements in place for millions of litres daily.This is a developing story. Updates are expected early next week as the refinery's commercial team typically communicates pricing changes via official channels or industry portals like petroleumprice.ng.