Petrol Prices Rise to N1,395/Litre After Dangote Hike

On Saturday, petrol prices reached N1,395 per litre as filling stations adjusted to the new pricing regime set by Dangote Petroleum Refinery, which raised its gantry price from N1,265 to N1,350 per litre effective September 12, 2026. The MRS filling station in Alapere, Lagos, increased its price from N1,310 to N1,395, while other stations like Mobil and Matrix adjusted their prices to N1,385 and N1,360, respectively.

This adjustment is the fourth increase since August 21, when the price was raised from N1,165 to N1,185, followed by increases to N1,200 on August 26 and N1,265 on August 29. The total increase over this period amounts to N185 per litre, approximately 15.9%.

The price hikes are attributed to elevated international crude oil prices, which have recently surpassed $104 per barrel due to geopolitical tensions affecting oil supplies. A circular from the Dangote refinery notified customers of these changes and advised them to return existing Authority to Collect documents for repricing.