Dangote Refinery Raises Petrol Price to N1,175/Litre, Third Hike in a Week

Petrol prices in Nigeria have climbed again after the Dangote Petroleum Refinery raised the gantry price of Premium Motor Spirit to N1,175 per litre, marking the third increase within a week.

This latest adjustment was announced on Monday. The new price represents a jump from N995 per litre set on Friday, an increase of N180, or about 18.1 per cent in just three days.

In addition, the refinery revised the gantry price of Automotive Gas Oil (diesel) to N1,620 per litre.

A senior official of the refinery, who spoke on condition of anonymity because he was not authorised to comment publicly, confirmed the adjustment to our correspondent, stating that the revision had already been communicated to marketers and depot operators.

This marks the third surge in petrol prices within a week, with gantry rates climbing from N774 to N995 per litre before reaching N1,175. Consequently, pump prices in several states have now crossed N1,000 per litre, with some stations selling at around N1,200/litre—deepening the financial strain on households and businesses.

The latest increase is expected to cascade into higher costs nationwide, as fuel price hikes typically drive up transportation, logistics, and production expenses.

It also underscores the challenges facing the Federal Government’s efforts, through the Nigerian National Petroleum Company Limited, to secure crude oil supplies for the Dangote Petroleum Refinery via third-party international traders in order to stabilize domestic refining.

Officials caution, however, that such interventions may not immediately ease consumer prices.