Dangote Refinery halts naira petrol sales, pegs price at $0.779 per litre

Dangote Refinery has suspended the sale of petrol in naira and switched to dollar pricing, setting the premium motor spirit ("PMS") ex‑depot price at $0.779 per litre – about ₦1,075 – effective July 13, 2026. The refinery also set diesel at $1.087/litre, aviation fuel at $0.942/litre and coastal PMS at $1,044.62 per metric tonne. The move ends the naira‑for‑crude deal that began on October 1, 2024. Independent Petroleum Marketers Association of Nigeria ("IPMAN") warned that pricing in dollars will pressure the naira and push retail pump prices higher unless the federal government intervenes. Depot owners already quoted ex‑depot petrol between ₦1,085 and ₦1,090 per litre, up from around ₦1,075, while retail prices in Abuja held steady at ₦1,155‑₦1,205 per litre. Crude oil prices have risen to about $80 for "WTI" and $85 for "Brent" amid Middle‑East tensions. The shift could raise transport and production costs across the downstream sector, affecting households and businesses. Consumers should monitor official announcements, budget for possible fuel‑price increases, and consider alternatives such as public transport or car‑pooling while awaiting government response.

SOURCE: https://dailypost.ng/2026/07/14/fuel-price-dangote-refinery-suspends-petrol-sale-in-naira/