Dangote refinery Hikes Petrol Price
Analysis based on 9 articles · First reported Mar 13, 2026 · Last updated Mar 14, 2026
The Dangote refinery's petrol price hike, driven by rising Brent Crude prices and geopolitical tensions, has created uncertainty in Nigeria's downstream petroleum sector. This directly impacts marketers and consumers, with potential ripple effects on pump prices nationwide.
The Dangote refinery has increased its ex-depot price for Premium Motor Spirit (petrol) to N1,175 per litre, reversing a recent reduction to N1,075 per litre. This adjustment, which occurred just days after the initial cut, has led many depot operators in Nigeria to temporarily suspend petrol sales and loading activities at the refinery. Industry sources attribute the price hike to a sharp rise in global crude oil prices, with Brent Crude jumping from around $91 to $100 per barrel. Geopolitical tensions involving the United States, Iran, and Israel in the Middle East are also cited as contributing factors to the crude oil price volatility. The frequent price adjustments by Dangote refinery, which sources crude at international benchmark prices, have introduced significant uncertainty in Nigeria's downstream petroleum market, affecting both marketers and consumers.
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