Dangote refinery increases petrol price due to rising crude costs
The Dangote Petrochemical Refinery has raised its ex-depot petrol price to N1,175 per litre, reversing a recent reduction. The change comes as global crude oil prices surge, impacting refining costs. Dangote Refinery confirmed the price adjustment, which has caused disruptions in trading activities at petroleum depots. The move reflects ongoing volatility in the global oil market.
TLDR
- Dangote Refinery increased the ex-depot price of petrol to N1,175 per litre after a brief reduction to N1,075 per litre on March 10, 2026.
- The price hike is attributed to a sharp rise in global crude oil prices, with Brent crude surpassing $100 per barrel.
- Depot operators have temporarily suspended sales to await clarity on the new pricing structure.
- Loading operations at the refinery were also paused for stock reconciliation and alignment with the new prices.
- The global oil price rally is linked to escalating tensions in the Middle East, raising fears of supply disruptions.
