Dangote Refinery Raises Fuel Cost Again as Petrol Nears ₦1,300 Per Litre

Nigeria’s fuel market has recorded another upward shift as the Dangote Petroleum Refinery revised its petrol price higher, marking yet another increase within March. The latest adjustment pushes the ex-depot price of Premium Motor Spirit (PMS) to about ₦1,275 per litre, intensifying pressure on consumers already grappling with rising living costs.

The new pricing reflects a series of frequent revisions by the refinery in recent weeks, driven largely by fluctuating global crude oil prices and increasing operational expenses. Earlier in the month, petrol prices had already climbed sharply from below ₦1,000 to over ₦1,100 per litre in multiple adjustments, signalling persistent instability in the downstream sector.

Industry observers note that the continued hikes are influencing pump prices nationwide, with many filling stations now selling fuel well above ₦1,200 per litre depending on location. The ripple effect has also contributed to higher transportation fares and general inflation, worsening economic hardship for households.

Despite occasional price reductions, the overall trend has remained upward, as market forces and supply costs continue to dictate pricing. Stakeholders warn that unless global oil prices stabilize and local production costs ease, Nigerians may continue to face frequent fuel price adjustments in the coming weeks.