Posted by Samuel on Sun 08th Mar, 2026 - tori.ng
This followed its earlier N100 per liter petrol price hike, which the $20 billion refinery attributed to the crude oil price volatility caused by the war in the Middle East.
Dangote Refinery’s increase in the gantry price of Premium Motor Spirit to ₦995 per litre from ₦874 over the weekend has pushed retail fuel pump prices across the country above ₦1,000 per litre.
According to Daily Post, some checks on Sunday showed that the 650,000-barrel-per-day refinery further increased its gantry by N121 per liter, the second increment in four days.
This followed its earlier N100 per liter petrol price hike, which the $20 billion refinery attributed to the crude oil price volatility caused by the war in the Middle East.
Meanwhile, Dangote Refinery’s latest price hike further makes imported fuel N185.17 per liter cheaper, according to the Major Energies Marketers Association’s March 2, 2026, industrial price data.
Dangote Refinery’s price hike has triggered MRS, Nigerian National Petroleum Company Limited, and other filling stations in Abuja to raise their petrol pump price between N967 and as high as N1,010 per liter as of Saturday.
Recall that crude oil prices surged by 9 percent to $90.90 and $93 per barrel as of Sunday morning, according to oilprice.com.
With the rising crude price following the Iran-United States-Israel war escalation in the Gulf region, domestic petrol may continue to surge.
In a statement on Thursday, Dangote Refinery ruled out fuel price stability but assured Nigerians of petrol supply.