The Dangote Petroleum Refinery has raised its gantry prices for petrol and diesel, adding more pressure on Nigerian consumers and businesses. A refinery official confirmed the development on Tuesday, attributing the increase to international crude oil trends and market realities.
Petrol prices rose by N75 per litre to N1,275, a 5.02% increase, while diesel jumped by N200 per litre to N1,950. This follows last month’s prices of N1,200 for petrol and N1,750 for diesel, signaling that diesel could soon cross the N2,000 per litre threshold at fuel stations.
“The adjustment is in line with global market trends, particularly the ongoing tensions in the Middle East, which have affected crude oil prices,” the official explained. “Petrol has been reviewed upward by N75, while diesel has increased more significantly by N200. These changes reflect the realities of the international market.”
Data from Petroleumprice.ng confirms the gantry-level increases. The hike comes despite expectations that Nigeria’s growing local refining capacity would stabilise domestic fuel prices. Analysts note that fuel prices in the country remain tied to global crude benchmarks, exchange rates, and logistics costs, meaning local prices still fluctuate with international markets.
The move is expected to push pump prices higher in the coming days, as marketers pass on the additional cost to consumers. With households and businesses already facing high energy and transport costs, further increases could exacerbate inflation and slow economic recovery.
Despite being Africa’s largest refinery, Dangote Petroleum’s operations have yet to fully shield Nigeria from the impact of global oil price swings, highlighting the continued vulnerability of the nation’s deregulated downstream sector.
