Dangote Refinery Raises Petrol To N1,275, Diesel To N1,950 In Fresh Price Hike

Amid escalating geopolitical tensions in the Middle East and rising global crude oil benchmarks, Dangote Petroleum Refinery has announced another increase in its gantry prices for Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel). The new pricing, effective immediately, sets petrol at N1,275 per litre and diesel at N1,950 per litre.

This adjustment marks a significant jump from last month’s rates. Petrol has risen by N75 per litre from the previous price of N1,200, representing a 5.02 percent increase, while diesel has surged by N200 per litre from N1,750. The new price for diesel brings it dangerously close to the N2,000 per litre threshold, raising alarms over transportation and logistics costs.

A top official at the refinery confirmed the development on Tuesday night, attributing the hike to external market forces beyond the company’s control. “The adjustment is in line with global market trends. You are aware of the ongoing tensions in the Middle East and how they have impacted crude oil prices. These are external factors that directly influence refined product pricing,” the official stated. Explaining the disparity between the two products, the official added, “Petrol has been reviewed upward by N75 to N1,275 per litre, which is about a five per cent increase, while diesel has increased more significantly by N200 to N1,950 per litre. These changes reflect the realities of the international market.”

Market data from Petroleumprice.ng corroborated the development, confirming the 5.02 percent adjustment at the gantry level. This marks the latest shift in a volatile period for the refinery; just weeks ago, on March 27, 2026, the company had reduced its petrol prices following a dip in global oil costs.

Despite the price shock, Aliko Dangote, President of Dangote Refinery, moved to calm fears of scarcity, assuring Nigerians of sufficient supply to meet regional demand. During a recent tour of the facility, Dangote emphasized the refinery’s capacity to withstand global disruptions. “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.

However, industry observers warn that the price hike is likely to trigger a ripple effect across the Nigerian economy. Diesel is a critical fuel for industrial generators, manufacturing plants, and long-haul transportation trucks. Analysts expect logistics and production costs to rise sharply, with marketers likely passing the burden onto consumers in the coming days. This development puts pressure on an economy still grappling with high inflation and comes at a time when many hoped that increased local refining capacity would shield Nigeria from global oil price volatility.