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Dangote Refinery raises petrol price from ₦1,175 to ₦1,245 per litre
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Global geopolitical tensions drive increase as Middle East crisis escalates
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New pricing takes effect March 21, impacting marketers nationwide
Dangote Petroleum Refinery and Petrochemicals has increased the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,245 per litre following rising global tensions linked to the Middle East crisis.
In a notice issued to marketers on Friday, the refinery said the new price represents a ₦70 increase from the previous ₦1,175 per litre. The adjustment is scheduled to take effect from midnight on March 21, 2026.
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The company also revised its coastal price, raising it from ₦1,512,648 per metric tonne to ₦1,606,518 per metric tonne, reflecting the broader impact of global supply disruptions.
READ ALSO: Dangote Refinery Attracts Global Demand as Iran War Disrupts Fuel Supply
“Due to the current global geo-political situation which has further escalated, the PMS gantry and coastal price has been reviewed,” the notice stated, adding that the new rates would apply to all pending and future transactions.
The price hike comes amid mounting pressure on global oil markets driven by tensions in the Middle East, which have disrupted supply chains and pushed up crude oil prices worldwide.
Industry observers say the increase could translate into higher pump prices across Nigeria, further intensifying cost-of-living pressures on consumers and businesses.