Dangote Refinery Raises Petrol Price to N1,275 per Litre

On Wednesday, Dangote Refinery announced an increase in the ex-depot price of petrol by N75, bringing it to N1,275 per litre. This change follows a rise in global crude oil prices, with Brent crude trading at $114.80 per barrel, reflecting a 3.15% increase.

The refinery's new pricing structure also includes a coastal supply price of N1,215 per litre. The adjustment took effect amid operational changes that halted the proforma invoicing process, leading to immediate disruptions in petrol sales and supply schedules.

Traders in the downstream petroleum market are now bracing for higher depot costs, which could translate to increased pump prices nationwide. The situation is compounded by rising logistics and distribution expenses along the value chain, as well as heightened geopolitical tensions affecting global oil supply corridors.

This development raises concerns about the potential for further fuel price hikes across Nigeria.