The Dangote Petroleum Refinery has increased the gantry prices of petrol and diesel, adding fresh pressure on consumers and businesses across Nigeria. A senior official of the refinery confirmed the adjustment on Tuesday, attributing the decision to current international crude oil benchmarks and prevailing market conditions.
Under the new pricing structure, petrol has risen by N75 per litre to N1,275; while diesel recorded a sharper rise of N200 per litre to N1,950. The new rates mark a notable jump from last month’s prices, with diesel now closer to the N2,000 per litre threshold.
Data from Petroleumprice.ng supports the adjustment, indicating that the updated petrol price reflects a 5.02 per cent increase at the gantry level. The price hike comes despite expectations that increased local refining capacity would stabilise fuel costs.
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With a deregulated downstream sector, domestic fuel prices continue to be influenced by international crude prices, exchange rates, logistics, and refinery operations, raising fears of further inflationary pressure on the economy.
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