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Petrol gantry price rises sharply from N995 to N1,175 per litre
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Diesel also increased to N1,620 per litre amid volatile market conditions
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Retail fuel prices nationwide now exceed N1,000 per litre, increasing cost of living
The cost of fuel across Nigeria surged again after Dangote Petroleum Refinery raised its Premium Motor Spirit (PMS) gantry price to N1,175 per litre, marking the third increase within a week.
The diesel (Automotive Gas Oil) gantry price was also adjusted to N1,620 per litre.
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This latest hike follows a temporary suspension of petrol sales at the refinery on Sunday and comes just days after the gantry price was increased to N995 per litre, representing an N180 or 18.1% increase within three days.
READ ALSO: Dangote Refinery Hikes Petrol Price to N995/Litre, Pumps Cross N1,000 Nationwide
A senior refinery official, speaking anonymously, confirmed that the price adjustments had been communicated to marketers and depot operators, citing volatile market conditions and rising replacement costs as the main drivers.
Industry checks indicate that retail fuel stations in several states have already raised pump prices above N1,000 per litre, with some stations dispensing petrol at around N1,200 per litre.
The price increases are expected to push up transportation, logistics, and production costs, further intensifying economic pressures on Nigerians.
The Federal Government’s effort to secure crude supply through international traders may not immediately reduce consumer prices.
With the $20 billion Lekki-based refinery controlling a major share of domestic fuel supply, these adjustments reflect ongoing challenges in stabilising petrol costs despite local refining efforts.