Dangote Refinery Raises Petrol Price Amid Global Oil Market Surge
The Dangote Petroleum Refinery has increased the price of petrol in Nigeria as global crude oil prices continue to climb following heightened geopolitical tensions, including renewed concerns over Iran-related developments. The adjustment reflects ongoing volatility in the international energy market.
Recent reports confirm that the refinery raised its ex-depot petrol price to about ₦1,275 per litre, marking another upward review in 2026. The increase is linked to rising global oil benchmarks and tightening supply conditions in key producing regions.
Market data also shows that the latest pricing change follows earlier fluctuations where petrol prices moved between reductions and increases depending on crude oil trends and operational costs. This pattern highlights how sensitive Nigeria’s fuel market has become to global energy movements.
Analysts say the latest price increase is being driven by fears of supply disruptions in international oil routes and uncertainty in Middle East politics. These developments have pushed crude oil prices higher, forcing refiners to adjust downstream pricing structures.
In Nigeria’s deregulated fuel market, changes in depot prices often translate quickly into higher pump prices. This has raised concerns among consumers and transport operators, who are already facing rising living costs.
Despite the price hike, the Dangote Refinery continues to play a key role in local fuel supply and export operations, helping to reduce Nigeria’s reliance on imported petroleum products. However, market instability means price changes remain frequent.
Experts believe further adjustments are possible if global tensions continue to affect oil production and shipping routes in the coming weeks.
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