Nigerians are at the verge of serious crisis as the premium motor spirit(petrol) price hike has climbed up to N1,400 per liter and Automotive Gas Oil (diesel) to N1,750 after Dangote Refinery hiked its gantry fuel price to N1,175 per liter for petrol and N1,620 per liter on Monday.
Amid Dangote’s second fuel price hike in one week and Iran-US crisis, Presidency led by Bola Ahmed Tinubu has remained silent.
Presidency remains silent
Diesel price hits N1,750 per litre
For diesel, prices are anticipated to get as high as N1,750 per liter in filling stations in Abuja, up from around N1,365 per liter.
Additionally, a manager at an MRS filling station in Abuja, who preferred anonymity, told DAILY POST that its fuel price would rise to N1200 per liter from Tuesday 10th March, 2026, up from N1,092 per liter.
Recall that previous reports revealed that the price of petrol has risen by N525 per liter at Nigerian National Petroleum Company Limited(NNPCL) retail outlets and other filling stations before the Iran-United States-Israel war escalated on February 28, 2026.
This coincides with Dangote Refinery raising its gantry pricing to N1,175 per litre as on Monday night, an increase of N376 per litre over the previous 10 days.
The refinery however blamed the increase in gantry prices on Monday on the volatility of the world’s crude prices.
Fuel, diesel, may hit N2,000 or N3,000 per liter — PETROAN
Reacting to the situation, the national president of the Petroleum Products Retail Outlets Owners Association of Nigeria(PETROAN), Billy Gillis-Harry, said the petrol and diesel prices may surge to N2,000 and N3,000 per liter if nothing was done.
He said, “We have a Naira-for-crude deal in place. However, the policy does not impact the crude oil price on the international crude oil market.
“The policy is only saving the dollar because the volatility of the currency is dependent on imports. Dangote has increased the petrol gantry price thrice due to the market realities.
“This is why we have urged the regulators to work towards a price stability programme without regulating price”
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