Dangote Refinery fuel price hike hits N1,350 per litre as fresh ex-depot increase raises concerns across Nigeria’s downstream petroleum market
Dangote Petroleum Refinery, operated by business magnate Aliko Dangote, on Wednesday increased its ex-depot price of Premium Motor Spirit to N1,350 per litre, marking another sharp adjustment in Nigeria’s downstream petroleum sector and intensifying concerns over rising fuel costs nationwide.
Also read: JUST IN: Dangote Refinery slashes petrol price in surprise cut
The increment represents a N75 increase from the previous N1,275 per litre, according to confirmation from a senior refinery official and data from pricing platform Petroleumprice.ng.
The development has immediately prompted marketers across the country to revise their pricing structures.
A senior official familiar with the matter said the new pricing template had been activated across all loading channels, noting that the adjustment reflects ongoing supply constraints and broader market pressures.
“All loading points have been updated, and marketers are already responding,” the official said, describing the change as part of wider cost dynamics affecting the petroleum value chain.
The latest Dangote Refinery fuel price hike comes barely a week after a similar upward revision, underscoring what industry stakeholders describe as a volatile pricing environment shaped by crude oil fluctuations, logistics costs and foreign exchange pressures.
The refinery has now implemented two consecutive N75 increases within seven days, a pattern that has heightened uncertainty among fuel marketers and consumers already grappling with inflationary pressures.
Despite the upward adjustments, a senior management source within the Dangote Group maintained that the refinery has been absorbing part of the cost burden through temporary subsidies on petrol and diesel supplied to the domestic market.
Industry players also linked the latest increase to a recent suspension in the issuance of pro forma invoices, which briefly disrupted product availability and contributed to supply tightening across depots.
“The suspension created a short-term squeeze in supply,” the official added. “Combined with global crude movements and logistics costs, price adjustments became unavoidable.”
Also read: Dangote refinery faces $5.4bn crude shortfall
The Dangote Refinery fuel price hike continues to reshape Nigeria’s downstream market, with analysts warning that further volatility may persist as global energy prices and domestic distribution dynamics remain unsettled.
Mariam Balogun is a contributor to Freelanews.com, covering news, business, and public affairs.
