Again, Dangote Refinery Increases Fuel Price

Dangote Refinery has again increased the petrol price.

NewsRain Nigeria reports that Dangote Petroleum Refinery has announced a fresh increase in the price of fuel from N1,175 to N1,245 per litre, following increase in crude oil prices rising above $100 per barrel.

In a notice to marketers on Friday, the Refinery noted that its ex-depot (gantry) price would rise from N1,175 to N1,245 per litre, while the coastal price increased from N1,512,648 to N1,606,518 per metric tonne.

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The notice explained that the revision reflects global market realities, including fluctuations in crude oil prices and increased shipping costs, which are beyond the Refinery’s control.

The new pricing is set to take effect from midnight on Saturday, March 21, 2026.

Marketers with existing supply arrangements backed by valid bank guarantees will still be allowed to lift products at previous rates, provided their guarantees cover the price differential.

The Refinery stated that the corresponding cost difference will be debited to marketers’ trading accounts, with evidence of payment required by March 23.

Following the notice to marketers, the Refinery, in a statement to newsmen, the same Friday, noted that Nigeria has retained one of the lowest petrol prices globally despite recent increases driven by geopolitical tensions in the Middle East.