Dangote Refinery Raises Petrol Price to ₦1,350 per Litre Amid Market Pressures

Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (petrol) to ₦1,350 per litre, marking a ₦75 rise from the previous rate.

The adjustment, confirmed on Wednesday by a senior official and Petroleumprice.ng, comes just a week after prices moved from ₦1,200 to ₦1,275 per litre.

The updated gantry price has now been implemented across all loading points, prompting fuel marketers to reassess their pricing structures.

Industry sources attribute the increase to persistent supply challenges, higher logistics costs, and fluctuations in global crude oil prices.

Earlier in the week, the refinery temporarily suspended the issuance of pro forma invoices, a move that reportedly constrained supply and contributed to upward pricing pressure across the distribution chain.

Despite these increases, a company official recently indicated that the refinery has been absorbing part of the cost burden by subsidising petrol and diesel for the domestic market.

In recent weeks, petrol prices from the refinery have seen multiple revisions, reflecting the impact of volatile crude sourcing costs, exchange rate instability, and evolving distribution conditions.

These developments underscore the instability within Nigeria’s deregulated fuel market, where local refining is expanding but remains influenced by international pricing dynamics.

The latest hike is expected to translate into higher pump prices nationwide, as marketers transfer additional costs to consumers.

With inflation already elevated, the increase is likely to intensify pressure on household budgets and drive further rises in transportation and living expenses.