The Dangote Petroleum Refinery has increased the gantry price of petrol to N1,275 per litre and diesel to N1,950, tightening cost pressures across Nigeria.
A top refinery official confirmed the adjustment, attributing it to global oil market trends and external factors. “The adjustment is in line with global market trends. You are aware of the ongoing tensions in the Middle East and how they have impacted crude oil prices,” the official said.
He added, “Petrol has been reviewed upward by N75 to N1,275 per litre… while diesel has increased more significantly by N200 to N1,950 per litre. These changes reflect the realities of the international market.”
The new pricing represents a 5.02 per cent increase for petrol, up from N1,200 per litre last month, while diesel rose from N1,750, edging closer to the N2,000 mark.
Market data corroborated the hike, reinforcing concerns that marketers may soon adjust pump prices upward to reflect the new costs.
The increase comes despite expectations that local refining would stabilise prices, as Nigeria continues to rely on global crude benchmarks, leaving domestic fuel prices vulnerable to international volatility.
