Dangote Petroleum Refinery has resumed coastal loading of Premium Motor Spirit (PMS) after a six-day suspension, introducing a new coastal petrol price of $1,161.23 per metric tonne (MT), up from the previous $1,044.62/MT. The latest price represents an increase of $116.61/MT, or approximately 11.2 per cent. The development comes as industry sources indicate that gantry loading for trucks, which remains suspended, could also resume soon with a possible price review Petroleumprice.ng gathered.
The resumption comes after the refinery halted both coastal and gantry loading on Wednesday, July 15, following the introduction of a dollar-denominated pricing template for refined petroleum products. While marine deliveries have now resumed, gantry loading for trucks remains suspended, although multiple industry sources told Petroleumprice.ng that truck loading could resume soon, with expectations that a revised gantry price may also be announced.
Checks by Petroleumprice.ng show that the new coastal PMS price of $1,161.23/MT represents an increase from the previous $1,044.62/MT, translating to an increase of $116.61/MT, or approximately 11.2 per cent.
Industry sources confirmed that the refinery communicated the resumption of coastal loading to customers on Tuesday and loading operations also began yesterday, July 21.
A source familiar with the development told Petroleumprice.ng:
"We have issued communication to all customers loading through the coastal channel, and depots that receive products through coastal deliveries have already started notifying their customers. Coastal loading resumed yesterday with the new coastal price. Gantry sales remain on hold, but from what we are seeing, gantry operations may also resume soon."
The suspension of loading last week triggered significant supply disruptions across the downstream sector, forcing marketers to source products from private depots. As a result, average petrol ex-depot prices in Lagos rose from about ₦1,075 per litre before the suspension to around ₦1,275 per litre, representing an increase of ₦200 per litre, or about 18.6 per cent, as replacement costs climbed and product availability tightened.
The refinery had earlier attributed its migration to dollar sales to challenges in securing sufficient crude oil under the Federal Government's naira-for-crude arrangement. Before the suspension, its pricing template fixed PMS at $0.779 per litre, Automotive Gas Oil (AGO) at $1.087 per litre, and Jet A1 aviation fuel at $0.942 per litre.
Market operators believe the resumption of coastal loading will improve marine distribution to coastal depots and gradually ease supply pressure in parts of the country. However, they stressed that the downstream market is now awaiting the reopening of gantry loading, which remains the refinery's primary distribution channel and is expected to have the biggest impact on nationwide product availability and depot prices.