The Dangote Petroleum Refinery has increased its gantry prices for petrol and diesel, citing global oil market conditions and rising crude benchmarks.
Under the new pricing structure, petrol now sells at N1,275 per litre, up from N1,200, reflecting an increase of N75 or about 5.02 per cent. Diesel prices also rose sharply by N200, from N1,750 to N1,950 per litre.
A senior official of the refinery, who confirmed the development on Tuesday night, said the adjustment was driven by prevailing international crude oil prices and broader market realities.
“The adjustment is in line with global market trends. You are aware of the ongoing tensions in the Middle East and how they have impacted crude oil prices. These are external factors that directly influence refined product pricing,” the official said.
He added, “Petrol has been reviewed upward by N75 to N1,275 per litre, which is about a five per cent increase, while diesel has increased more significantly by N200 to N1,950 per litre. These changes reflect the realities of the international market.”
The latest increase brings diesel prices closer to the N2,000-per-litre mark at filling stations, a development expected to further raise transportation, logistics, and production costs for businesses already grappling with economic challenges.
The adjustment marks a notable jump from last month’s prices, underscoring the impact of global oil price volatility on Nigeria’s domestic fuel market.
