Petrol Price Climbs as Dangote Refinery Hike Pushes Pump Rate to ₦1,220 Per Litre

Petrol prices are rising across parts of Nigeria after the Dangote Petroleum Refinery increased its gantry price for Premium Motor Spirit to ₦1,175 per litre, triggering a fresh wave of adjustments at retail outlets.

The refinery’s latest price revision, which marketers confirmed was communicated on Monday, represents the third increase within one week. The new rate follows last Friday’s price of ₦995 per litre and has already begun to affect pump prices at filling stations.

Several fuel retailers are now selling petrol for about ₦1,220 per litre as marketers pass on the higher cost of purchase to consumers. Industry operators say the adjustment reflects the additional expenses involved in transportation, logistics and distribution after buying products from the refinery.

Economic analysts warn that the increase could have wider consequences for the Nigerian economy. Fuel prices remain a major driver of transportation costs, and higher pump prices often lead to increases in bus fares, food prices and other essential goods.

Transport operators in some cities are already reviewing fares as the cost of fuel rises. Traders also say the development could raise the cost of moving agricultural produce and other commodities from farms and warehouses to markets.

The Dangote Refinery has become a central supplier in Nigeria’s fuel market since it began distributing refined petroleum products locally. However, the recent price adjustments highlight the continuing volatility within the country’s downstream petroleum sector.

With petrol now selling above ₦1,200 per litre at some stations, consumers and businesses are bracing for further pressure on household spending and operational costs in the coming weeks.

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