The Dangote Petroleum Refinery has raised its gantry price of Premium Motor Spirit (PMS) to N1,175 per litre, marking the third upward adjustment in seven days.
The refinery communicated the new ex-depot price to marketers and depot operators on Monday, representing a N180 increase from the N995 per litre announced on Friday, an 18.1 per cent rise within three days.
Dangote also revised the gantry price of Automotive Gas Oil (diesel) upward to N1,620 per litre.
The latest hike follows two earlier adjustments last week that pushed gantry prices from N774 per litre to N995 per litre.
The rapid price movement has left consumers and fuel marketers concerned, with many expecting retail pump prices to increase across Nigeria in the coming days.
The price pressure is also linked to rising global oil prices triggered by the ongoing war involving Iran.
The conflict has raised fears of disruptions to oil production and shipments in the Middle East, particularly through the Strait of Hormuz, a major route for global crude supply, pushing international oil prices higher.
