Dangote Refinery Raises Petrol Price to N1,275/Litre

Dangote Petroleum Refinery has announced its fifth increase in petrol prices for March, raising the ex-depot price of premium motor spirit (petrol) to N1,275 per litre. This latest adjustment, which represents a N100 increase from the previous price of N1,175 per litre, translates to an 8.5% rise.

The refinery's price adjustments have been rapid, with increases occurring on March 2 (N774), March 20 (N1,175), and March 21 (N1,275). The coastal price also rose significantly, now standing at N1,512,648 per metric ton, reflecting an 8.9% increase.

The adjustments are attributed to volatility in the global oil market and supply chain disruptions. Stakeholders have been advised to disregard earlier price templates as the new prices take immediate effect.

This trend is expected to trigger further increases in transport fares and commodity prices across Nigeria, highlighting the ongoing vulnerability of the country's fuel market.