Dangote Refinery has increased its gantry price of Premium Motor Spirit following rising global crude oil prices and escalating geopolitical tensions.
Checks on Tuesday confirmed that the refinery adjusted its petrol price to N1,275 per litre, up from N1,200, representing an increase of N75 or approximately 5 percent.
The adjustment comes after nearly a week of relative stability in domestic fuel prices despite volatility in the global oil market.
Speaking on Monday, the President of the refinery, Aliko Dangote, assured Nigerians and the wider African market of uninterrupted fuel supply, even amid disruptions linked to tensions involving the United States, Iran, and Israel.
“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 during a tour of the facility.
It would be recalled that on March 27, 2026, the refinery had reduced its gantry petrol price following a drop in global crude oil prices.
As of the latest market data, West Texas Intermediate crude stood at 110 dollars per barrel, while Brent crude was priced at 105 dollars per barrel.
The latest price movement follows renewed tensions after remarks by former United States President, Donald Trump, who threatened an escalation in conflict involving Iran.
