Dangote Refinery Raises Petrol Price to N1,245/Litre

Dangote Refinery announced a hike in the ex-depot price of premium motor spirit (petrol) to N1,245 per litre, up from N1,175 per litre. This adjustment, effective from midnight on March 21, 2026, is attributed to escalating global geopolitical tensions.

The coastal price has also risen to N1,512,648 per metric ton, increasing to N1,606,518 per metric ton. The refinery emphasized that the price adjustments are necessary to reflect prevailing market realities influenced by external factors beyond its control.

The notice indicated that the revised prices will apply to unloaded coastal volumes and that the adjustments are expected to ripple through the downstream sector, potentially leading to increased pump prices for consumers. The refinery aims to stabilize domestic supply amidst ongoing uncertainties in the global oil market, particularly due to tensions in oil-producing regions, which have affected crude oil prices and freight costs.