Dangote Refinery has reacted to the global oil market by increasing the petrol price.
Dangote Refinery has increased its fuel price to ₦1,175, which has caused temporary disruption across several fuel depots as operators paused sales following the adjustment announced by the refinery.
Reports indicate that the Dangote refinery pushed the price of petrol back to ₦1,175 per litre after an earlier reduction. The change has led depot operators in different locations to temporarily suspend transactions while reviewing the new pricing.
Earlier in March 2026, the refinery had reduced the ex-depot price of premium motor spirit by ₦100. That decision lowered the price to ₦1,075 per litre from the previous ₦1,175 per litre, a move that initially brought relief to marketers and fuel distributors.
Industry sources say several depots immediately paused transactions after the announcement of the petrol price increase by Dangote Refinery in order to avoid losses and pricing confusion in the market.
The refinery has also reportedly suspended loading operations for the moment. The pause is meant to allow the company to reconcile its stock levels and realign distribution with the updated pricing structure.
According to market observers, the latest petrol price increase is largely connected to developments in the global crude oil market. Rising international oil prices have continued to put pressure on refining costs worldwide.
Data from the international oil market shows that Brent crude prices recently increased from about 91 dollars per barrel to around 100 dollars per barrel. The sharp rise has directly affected the cost of crude oil used for refining petroleum products.
Experts say that fluctuations in global crude prices often translate into adjustments in domestic petrol pricing, especially under Nigeria’s deregulated downstream petroleum market.
The situation has once again highlighted how sensitive the Nigerian fuel market has become to movements in international oil prices. Many industry stakeholders believe that such adjustments will continue as long as crude oil prices remain volatile.
For now, marketers and depot operators are closely monitoring developments surrounding the petrol price increase by the Dangote Refinery as they await further clarification from the refinery before resuming normal sales activities.
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