Dangote Refinery Increases Petrol Price to ₦875 per Liter

Dangote Refinery has confirmed an increase in the ex-depot price of petrol from ₦774 to ₦875 per liter, attributed to recent volatility in global crude oil prices. This adjustment was reported by a senior official and is expected to trigger a nationwide fuel price adjustment.

The refinery had previously suspended petrol loading operations effective midnight on March 2, 2026, as international crude oil prices surged past $80 per barrel. Industry data indicates that the suspension of petrol loading is a clear sign of a temporary halt in transactions, although diesel loading continues.

Market analysts warn that if crude oil prices climb beyond $90 per barrel, petrol and diesel prices in Nigeria could rise further, potentially pushing retail prices closer to ₦1,000 per liter. The current geopolitical tensions, particularly involving the United States and Iran, are raising fears of supply disruptions, which could further impact the local fuel market.