Olushola Omogbehin
Following the tension in the Middle East that has caused a lot of havoc in the oil market, Dangote Refinery has again increased its gantry price of Premium Motor Spirit and diesel, thereby making life more burdensome to Nigerians.
It was confirmed on Tuesday that the refinery in reaction to the prevailing international crude oil benchmarks and market realities has incresed its fuel prices.
While PMS was raised from N1,200 to N1,275 per litre, which stands for about 5.02 per cent increase, diesel has been increased to N1,950.
This fresh development is coming after nearly a week of stable domestic fuel prices despite crude oil price volatility.
Meanwhile, Aliko Dangote, has on Monday told Nigerians and Africans of maximum and sufficient petrol supply despite the disruption caused by the Iran-United States-Israel war.
“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,” he said during a tour of the plant.
The increase has however, been seen as Dangote’s reaction to global market because energy experts experts have said that as long as crude oil pricing remains tied to global benchmarks, domestic fuel prices will continue to react to international developments.
This type of reaction was seen on March 27th, 2026, when Dangote refinery reduced its gantry petrol price as the global oil price dropped.
The latest increase may further worsen the living condition of Nigerians because of the high tendency of it affecting the affordability of other goods.
