Dangote Petroleum Refinery has increased the price of Premium Motor Spirit (petrol) to N1,245 per litre, marking its fourth upward review in March.

The adjustment, announced in a notice to marketers on Friday night, raises the ex-depot (gantry) price from N1,175 per litre to N1,245, while the coastal price was also revised upward.

“Please be informed that due to the current global geopolitical situation, which has further escalated, the PMS gantry and coastal prices have been reviewed and updated as outlined below,” the notice read.

Data from the refinery shows the latest change adds N70 per litre to the gantry price, while the coastal rate increased from N1,512,648 to N1,606,518 per metric tonne.

This follows a series of hikes earlier in March, when petrol prices rose from about N774 to N875, then N995, N1,175, and now N1,245 per litre.

“Please note that the revised price will apply to all unloaded gantry and coastal volumes and is effective from 12am on the 21st of March 2026,” it stated.

The refinery added that customers with existing supply agreements backed by bank guarantees can still lift products under prior approvals, provided they cover the price difference.

“For customers with a valid Bank Guarantee with DPRP, loading will continue with existing ATCs/PRN (if any), provided the BG credit balance covers the price change differential,” the notice added.

It also noted that any shortfall arising from the new pricing would be charged to marketers.

“The corresponding debit note will be passed in your trading account with DPRP. Payment evidence for the price change differential will be required by Monday, March 23, 2026,” the company said.

The latest increase is expected to push pump prices higher nationwide, as marketers adjust to reflect the new cost.

The refinery attributed the move to rising global tensions affecting crude oil prices and supply chains, especially in key oil-producing regions, stressing that the review reflects prevailing international market conditions.