The has increased the price of Premium Motor Spirit (petrol) to ₦1,275 per litre, marking its second upward review within hours.
The latest adjustment represents a ₦30 increase from the earlier announced price of ₦1,245 per litre, according to a customer advisory issued by the company.
The refinery stated that the new gantry price takes effect from 12:00 a.m. on March 21, 2026, superseding all previously communicated rates.
It added that “the prices contained in our previous correspondence are no longer applicable and should be disregarded,” indicating a complete revision in response to rapidly changing market conditions.
The company also adjusted its coastal supply price upward, from ₦1,512,648 to ₦1,646,748 per metric tonne, with the new rates applying to all outstanding and undischarged volumes.
Customers with valid Bank Guarantees were advised to proceed with loading under existing Authority to Collect (ATCs) and Product Release Notes (PRNs), subject to the payment of the price differential.
The refinery attributed the frequent adjustments to the continued rise in global crude oil prices, which have significantly impacted pricing in Nigeria’s downstream sector.
The development is expected to trigger a ripple effect across filling stations nationwide, with the likelihood of further increases in pump prices in the coming days.
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