Dangote Refinery Raises Petrol Price to N1,245 Per Litre Over Global Instability
Ademola Busayo 
The Dangote Petroleum Refinery has raised its ex-depot price of petrol to ₦1,245 per litre, effective immediately, as global instability continues to push up crude oil costs.
The adjustment, which adds ₦70 to the previous rate, comes after a series of recent changes driven by fluctuations in international oil markets.
Sources close to the refinery confirmed the new price on Friday evening, noting that the move reflects ongoing pressures from events in oil-producing regions that have kept crude prices elevated.
This latest increase follows a pattern of adjustments in recent weeks.
Just days earlier, the refinery had restored its ex-depot price to ₦1,175 per litre after briefly lowering it to ₦1,075.
Earlier in March, prices had climbed from levels around ₦874 and ₦995 amid sharp rises in global crude, which at times exceeded $100 per barrel.
The refinery, which began full operations in 2024 as Africa’s largest single-train facility, was expected to help stabilise domestic fuel supply and reduce reliance on imports.
Yet petrol prices have swung significantly since then, starting from around ₦699 in late 2025 before climbing steadily through early 2026.
Depot operators have already begun adjusting their own rates in response, and filling stations across the country are expected to follow suit in the coming days.
Motorists in major cities reported queues forming at some outlets as news spread.
The price at the pump often ends up higher than the ex-depot figure due to transportation, taxes, and margins added by marketers and retailers.
In many areas, retail prices have already crossed ₦1,200 in recent weeks, and this change is likely to push them further.
Transport unions and market traders have warned that the increase will add to the cost of moving goods, which in turn affects food prices and everyday expenses for millions of households.
Many rely on generators for power because of unreliable electricity supply, making petrol a daily necessity beyond just fuelling vehicles.
A statement from the refinery pointed to external factors beyond its control, including supply disruptions linked to geopolitical tensions in the Middle East.
No immediate comment came from the Nigerian Midstream and Downstream Petroleum Regulatory Authority or major marketers’ groups on Friday night.
The development has sparked fresh reactions online, with many Nigerians expressing frustration over the repeated hikes and their impact on living costs.
Some posts on social media described the situation as adding to existing hardships, with calls for clearer explanations from authorities and industry players.
As the refinery continues to ramp up production, questions remain about how quickly domestic output can shield the market from global swings.
For now, the new ₦1,245 ex-depot price marks another upward shift in what has been a volatile period for fuel in Nigeria.
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