By Ovasa Ogaga,
The Dangote Petroleum Refinery has raised the prices of petrol and diesel on the gantry, intensifying cost pressures on consumers and businesses across Nigeria.
A senior official at the refinery confirmed on Tuesday that the adjustment was driven by prevailing global crude oil prices and shifting market conditions.
Under the new pricing structure, petrol increased by ₦75 per litre to ₦1,275—about a 5.02 per cent rise—while diesel saw a steeper hike of ₦200 per litre, climbing to ₦1,950. The new rates represent a significant jump from last month’s ₦1,200 per litre for petrol and ₦1,750 for diesel, pushing diesel closer to the ₦2,000 threshold.
According to the official, the review reflects external pressures, particularly ongoing tensions in the Middle East, which continue to influence global oil prices and, by extension, refined product costs.
Market data from Petroleumprice.ng aligns with the development, confirming the upward adjustment in petrol prices at the gantry level.
The increase comes despite expectations that expanded local refining capacity would stabilise domestic fuel prices. Analysts note, however, that Nigeria’s continued reliance on international crude benchmarks leaves it vulnerable to global market volatility.
With the downstream sector fully deregulated, fuel prices remain subject to market forces, including exchange rates, logistics, and international oil trends. As a result, marketers are expected to pass the higher costs on to consumers, potentially triggering a fresh round of pump price increases nationwide.
The latest hike adds to mounting concerns over affordability, as households and businesses continue to grapple with rising energy and transportation expenses.
