Nigeria TV Info 

Dangote Refinery Raises Petrol Price Again Amid Rising Global Oil Costs

The Dangote Petroleum Refinery has announced another increase in the ex-depot price of Premium Motor Spirit (petrol), intensifying pressure on Nigeria’s downstream market.

According to industry sources, the new price has been raised from ₦1,175 per litre to ₦1,245 per litre, effective March 21, 2026.

This latest adjustment comes barely days after the refinery had earlier increased prices from ₦1,075 to ₦1,175 per litre, reversing a brief reduction that had triggered heightened buying activity among marketers.

📊 Reasons Behind the Increase

The refinery attributed the recurring hikes to:

• Rising global crude oil prices, with Brent crude crossing $100 per barrel
• Escalating geopolitical tensions affecting supply chains
• Increased cost of refining and distribution

These factors have significantly raised production costs, forcing refiners to adjust prices upward to remain sustainable.

⛽ Market Impact

The repeated price changes have:

• Disrupted depot operations, with some marketers temporarily halting transactions
• Created uncertainty in fuel pricing nationwide
• Increased the likelihood of higher pump prices across filling stations

Analysts warn that with Nigeria now prioritizing local refining and limiting fuel imports, domestic prices may continue to reflect global oil market volatility.

🇳🇬 Broader Context

The Dangote Refinery, Africa’s largest with a capacity of about 650,000 barrels per day, plays a central role in Nigeria’s push for energy self-sufficiency. However, its pricing decisions now have a direct and significant impact on the entire fuel market.