BREAKING: Dangote Refinery Raises Petrol Price Again Amid Global Oil Surge

Dangote Refinery has raised Petrol Price again amid global oil surge.

 

NewsOnline Nigeria reports that Dangote Refinery has increased its gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to N1,275 per litre, up from N1,200, as global crude oil prices surge amid escalating geopolitical tensions involving the United States and Iran.

 

Checks on Tuesday showed that the refinery raised the price by N75 per litre, representing about a 5 percent increase. The adjustment comes after nearly a week of relative stability in domestic fuel prices despite volatility in international oil markets.

 

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The price hike follows renewed tensions in the Middle East after U.S. President Donald Trump threatened to escalate hostilities with Iran, a development that has pushed global oil prices upward.

 

Market data shows that West Texas Intermediate crude traded at about $110 per barrel, while Brent crude stood near $105 per barrel at the time of reporting.

 

Earlier this week, President of the refinery, Aliko Dangote, assured Nigerians and other African markets that the facility has the capacity to maintain steady fuel supply despite disruptions linked to the tensions involving the United States, Iran and Israel.

 

“What I can do is assure Nigerians and most of West Africa, Central Africa and East Africa that we have the capacity to supply them,” Dangote said during a tour of the multi-billion-dollar refinery complex.

 

The development comes barely weeks after the refinery cut its petrol gantry price on March 27, 2026, following a decline in global crude oil prices. However, the recent spike in international oil markets has once again put pressure on fuel pricing.

 

The $20 billion refinery, one of Africa’s largest energy projects, plays a major role in Nigeria’s fuel supply chain, and any adjustment in its gantry price is likely to influence retail pump prices across the country.