Dangote Refinery raises petrol price to ₦1,350 per litre as global oil pressures and domestic supply challenges continue to affect pricing.
The Dangote Petroleum Refinery has reportedly increased the price of petrol to ₦1,350 per litre, reflecting ongoing volatility in the global oil market and supply challenges within Nigeria’s domestic distribution system.
The price adjustment, which represents an increase of about ₦75, comes amid sustained pressure on crude oil prices and fluctuations in foreign exchange rates.
Industry sources indicate that changes in ex-depot pricing are being driven by a combination of global market trends and local logistics costs, including transportation and supply chain adjustments.
The development is expected to have a ripple effect across the economy, particularly in transportation, manufacturing, and food distribution sectors where fuel costs play a significant role.
Consumers are likely to feel the immediate impact through increased transport fares and higher prices of goods and services.
The refinery, which is seen as a major step toward reducing Nigeria’s reliance on imported petroleum products, continues to adjust pricing in line with market realities.
Analysts note that while the refinery offers long-term benefits for energy security, short-term price fluctuations remain inevitable under a deregulated system.
The situation underscores the broader challenges facing Nigeria’s energy sector as it transitions toward a fully market-driven framework.