LAGOS, Nigeria — Dangote Petroleum Refinery has raised its petrol gantry price to N1,350 a litre, the fourth increase in less than a month, as higher international crude prices add pressure to Nigeria’s fuel market.
The latest adjustment, effective September 12, lifts the refinery’s wholesale petrol price by N85 a litre, or 6.7 per cent, from N1,265.
Dangote had increased the price from N1,165 to N1,185 on August 21, to N1,200 five days later and then to N1,265 on August 29. The cumulative increase now stands at N185 a litre, or 15.9 per cent, in 22 days.
The refinery also raised its coastal delivery price from N1.67mn to N1.78mn per metric tonne, according to a circular issued to customers by its Group Commercial Operations.
Customers were instructed to return existing Authority to Collect documents for repricing, with new volume contracts to be issued before loading resumes.
The increase comes as international oil markets remain elevated, with Brent crude trading above $100 a barrel amid disruption to global oil supplies linked to the conflict involving the United States and Iran and reduced flows through the strategically important Strait of Hormuz.
The latest price move is likely to intensify scrutiny of petrol prices in Nigeria, where refinery costs, crude prices, logistics and exchange-rate movements increasingly shape pump prices.
SUPPORT AFRICAN BUSINESS JOURNALISM
Help XOL Africa expand independent business reporting across Africa.
SUPPORT XOL AFRICA →
