Depot prices of Premium Motor Spirit (PMS), commonly known as petrol, have climbed to ₦1,000 per litre in Lagos, following rising global crude prices and the recent halt in petrol loading at the Dangote Petroleum Refinery.
Checks conducted by Petroleumprice.ng show that several depot operators have begun adjusting their prices amid expectations of a fresh upward review in the market.
In Lagos, Rainoil depot and Eterna depot were observed quoting ₦1,000 per litre for PMS.
In Calabar, Fynefield depot priced petrol at ₦1,050 per litre, indicating a similar upward movement in regional supply hubs.
Industry participants say the price shift comes shortly after the Dangote Petroleum Refinery suspended PMS loading, a development that has triggered widespread speculation across the downstream sector about a possible price adjustment.
The movement also coincides with renewed strength in the international oil market, where Brent crude has surged toward the $90 per barrel mark, increasing the cost outlook for refined petroleum products.
Operators say the combination of rising global benchmarks and the halt in refinery loading has heightened market sensitivity, with depot owners and marketers closely watching for further signals that could shape the next phase of domestic petrol pricing.