The Dangote Petroleum Refinery has increased its ex-depot price of Premium Motor Spirit (PMS) to N1,275 per litre, marking its fifth price hike in March.

The latest adjustment reflects a N30 increase from the N1,245 announced hours earlier, and a N100 rise from the N1,175 sold earlier in the month, highlighting growing volatility in the downstream sector.

In a notice to marketers, the refinery said previous pricing templates are no longer valid, adding that the new rates took effect from midnight, March 21, 2026.

The refinery also raised its coastal price from N1,512,648 to N1,646,748 per metric tonne, representing an 8.9 per cent increase.

“Kindly note that the prices contained in our previous correspondence are no longer applicable and should be disregarded,” the notice stated.

Despite the increase, the company said customers with existing credit arrangements would continue to load products, provided they cover the price difference.

Findings show that petrol prices from the refinery have surged from N774 per litre at the beginning of March to N1,275, a cumulative increase of about 64.7 per cent in less than three weeks.

The repeated adjustments underscore mounting pressure from global crude oil volatility and supply disruptions, worsened by tensions in the Middle East.

The latest hike is expected to trigger increases in pump prices nationwide, with likely ripple effects on transport fares and cost of goods.