Olushola Omogbehin
Dangote refinery, African’s largest refinery, has adjusted its petrol price by ₦75 per liter on Monday, thereby bringing the new pump price of its petrol from ₦799 to ₦874 per liter.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, confirmed the likely retail price in a telephone interview on Monday.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, confirmed Dangote Refinery’s price hike on Monday.
“Following the increase by Dangote, the pump price will likely range between ₦980 and over ₦1,000 per litre, depending on location and logistics. This is largely the effect of the recent hike in global crude oil prices,” Ukadike said.
According to him, the move comes amid a hike in global crude oil prices following the Iran-United States-Israel conflict escalation in the past three days.
“It is due to global crude oil price volatility following the Iran-US-Israel war. It is the ripple effect of ongoing conflict.”.
Checks by petroleumprice.ng also showed that the revised rate had been reflected across the downstream value chain, indicating a shift in pricing benchmarks. In a notice to marketers, the refinery said:
“Dear Valued Customer, we are pleased to inform you that PMS is currently available for purchase. Please be informed that the current price is ₦874 per litre. Thank you for choosing Dangote.”
Already, a temporary suspension of petrol loading operations at the refinery beginning from midnight of March 2, 2026 has followed the increase after global crude oil prices surged above $80 per barrel.
