By Boluwatife Oshadiya | March 10, 2026
Key Points
- Dangote Refinery raises petrol gantry price to N1,175 per litre, the third increase within a week
- Diesel price also revised upward to N1,620 per litre amid volatile global oil markets
- Retail pump prices in several states now exceed N1,200 per litre
Main Story
The Dangote Petroleum Refinery has raised the gantry price of Premium Motor Spirit (petrol) to N1,175 per litre, marking the third upward price adjustment within a week and intensifying concerns over rising fuel costs across Nigeria.
The new price represents an increase of N180 from the N995 per litre announced on Friday, equivalent to an 18 percent rise within three days. The refinery also revised the gantry price of Automotive Gas Oil (diesel) upward to N1,620 per litre.
Industry checks show that the updated prices have already been reflected across petroleum depot pricing platforms used by downstream marketers, signalling an immediate shift in the benchmark supply cost for petrol across the country.
The latest adjustment follows reports that the refinery temporarily suspended petrol sales on Sunday amid market volatility linked to rising global crude oil prices.
Retail pump prices have already begun responding to the higher supply cost, with several filling stations across Nigeria dispensing petrol above N1,200 per litre, placing additional pressure on transportation costs and business operations.
The refinery, which began commercial fuel supply to the Nigerian market in 2024, has become a major supplier in the domestic downstream sector following decades of heavy reliance on imported fuel.
The Issues
Nigeria’s fuel pricing dynamics remain highly sensitive to global oil market volatility. Although the Dangote refinery is located domestically, it purchases crude oil at international benchmark prices, meaning local petrol costs still track global crude movements.
The situation has been compounded by recent geopolitical tensions affecting global energy markets, particularly disruptions linked to the Middle East, which have pushed crude oil prices sharply higher in recent days.
As a result, the expected stabilising effect of local refining on Nigeria’s fuel prices has yet to fully materialise.
What’s Being Said
“The market has been extremely volatile, and replacement costs have shifted significantly in recent days. These adjustments reflect prevailing market fundamentals and the cost environment we are operating in,” said a senior official at Dangote Petroleum Refinery.
“Domestic refining gives Nigeria supply security, ensuring the country avoids fuel shortages even during global disruptions,” said David Bird, Managing Director, Dangote Petroleum Refinery.
What’s Next
- Further petrol price adjustments may occur if global crude prices remain elevated
- The Federal Government continues efforts to secure crude supply for local refineries
- Market analysts expect transport and logistics costs to rise nationwide
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