Dangote Refinery Hikes Petrol to N1,275, Diesel to N1,950

The Dangote Refinery has increased the ex-depot price of Premium Motor Spirit (petrol) to N1,275 per litre, while diesel now sells at N1,950 per litre, intensifying concerns over rising energy costs in Nigeria.

The latest adjustment, announced by the refinery, marks a significant jump from previous rates and is expected to have a ripple effect across transportation, manufacturing, and general cost of living.

In a statement, the company attributed the price hike to prevailing market conditions and operational realities. It noted that the adjustment reflects “current realities in the global energy and crude oil market,” stressing that pricing decisions are influenced by multiple economic factors.

Industry stakeholders warn that the development could trigger further inflationary pressure, as fuel remains a critical driver of economic activities nationwide.

Depot operators and marketers have also reacted to the new pricing structure, with many indicating that pump prices at filling stations may soon rise in response to the increase in ex-depot rates.

Economic analysts say the move reflects the continuing volatility in Nigeria’s downstream oil sector, especially in the wake of subsidy removal and deregulation policies.

Despite the hike, the refinery maintained that it remains committed to ensuring steady supply and supporting energy security in the country.