Dangote Petroleum Refinery and Petrochemicals has dismissed reports of a new petrol price increase, stating that its ex-depot price for Premium Motor Spirit remains unchanged at ₦1,275 per litre.
The clarification, issued in a statement on Wednesday, comes amid widespread speculation about another upward adjustment in fuel prices. According to the refinery, no changes have been made to its current pricing structure, contrary to circulating claims.
“Dangote Petroleum Refinery and Petrochemicals Limited wishes to clarify that the price of Premium Motor Spirit remains unchanged, as our ex depot price continues to remain the same,” the company stated.
The announcement arrives at a time when Nigeria’s fuel market is under close watch, with recent price movements and global energy volatility fueling uncertainty. By maintaining its current rate, the refinery is positioning itself as a stabilizing force within the downstream sector.
The company explained that holding prices steady is part of a broader strategy to cushion the domestic economy from external shocks. With global crude oil markets facing fluctuations driven by supply disruptions, geopolitical tensions, and shifting demand patterns, local pricing decisions are becoming increasingly significant.
“The refinery, by sustaining its current prices, is reaffirming its commitment to supporting stability in the domestic energy market and cushioning the wider economy against external shocks,” the statement added.
Beyond messaging, the decision carries practical implications.
Ex-depot pricing directly influences how marketers purchase fuel before distribution. By resisting an increase despite rising operational costs, the refinery is effectively absorbing part of the pressure that would otherwise be passed on to consumers through higher pump prices.
This approach, the company said, is designed to reduce inflationary impact across key sectors. Stable fuel pricing plays a critical role in determining transportation costs, manufacturing expenses, and overall cost of living. Any increase in the supply level typically reverberates through the economy.
The refinery also emphasized its commitment to ensuring consistent product availability nationwide, noting that pricing stability is closely tied to supply reliability. In a market where shortages can quickly trigger price spikes, maintaining both supply and price levels is seen as essential to market balance.
For businesses and households, the decision offers temporary relief. Transport operators, manufacturers, and small-scale enterprises remain particularly sensitive to fuel costs, making any pause in price increases a significant development.
However, the move also highlights the complexity of operating within the current energy environment. While Dangote Refinery has chosen to hold prices for now, it acknowledged ongoing pressure from global markets and internal operational costs, suggesting that pricing decisions remain closely linked to evolving conditions.
In the broader context, the refinery’s stance reinforces its growing influence within Nigeria’s fuel ecosystem. As one of the largest suppliers in the country, its pricing signals are increasingly shaping market expectations and responses.
For now, the message is clear: no new price hike. But in a market defined by volatility, the durability of that position will depend on how global and local pressures unfold in the coming weeks.
