Dangote Raises Petrol Price by N85 Amid Global Oil Surge

The Dangote Petroleum Refinery has raised its ex-gantry price for petrol by N85 per litre, resulting in a new wholesale price of N1,350. This adjustment, which represents a 6.7% increase from the previous price of N1,265 per litre, is the refinery's second significant price change in recent weeks.

The increase is attributed to rising global crude oil prices, with Brent crude reaching approximately $107 per barrel before settling around $104. Consequently, filling stations across Nigeria have adjusted their pump prices, with MRS outlets in Abuja raising their price to N1,395 per litre, NIPCO to N1,430, and Mobil to N1,400.

In Kano, prices have also surged, with Aliko increasing its price to N1,430 per litre and Matrix to N1,460. The petrol landing cost in Nigeria has risen to about N1,311 per litre, indicating that further price adjustments at the pump are likely in the coming days.