Petrol Prices Surge to N1,395 as Dangote Increases Rates

On September 12, 2026, petrol prices in Nigeria rose significantly, with several filling stations adjusting their prices in response to the Dangote Refinery's increase of its petrol gantry price from N1,265 to N1,350 per litre. This adjustment led to prices reaching as high as N1,395 per litre at the MRS filling station in Alapere, Lagos, and N1,385 at a Mobil station nearby.

Other stations, such as Matrix Energy and Nigerian National Petroleum Company, charged N1,360 and N1,380 respectively. The price increase marks the fourth adjustment by Dangote Refinery since August 21, with previous increases occurring on August 21 (to N1,185), August 26 (to N1,200), and August 29 (to N1,265).

The latest increase of N85 represents a 15.9 percent rise in just 22 days. The refinery also adjusted the coastal delivery price from N1.67 million to approximately N1.78 million per metric tonne.

This surge in petrol prices is attributed to elevated international crude oil prices, which settled at $104.61 per barrel amid supply concerns in the Middle East.