Dangote Refinery has raised its ex-depot petrol price by ₦75 to ₦1,275 per litre, amid rising global crude prices.
Dangote Refinery has increased its ex-depot price of petrol by ₦75, raising the price from ₦1,200 to ₦1,275 per litre. The refinery announced the adjustment on Wednesday, while coastal prices also rose to ₦1,215 per litre, reflecting fresh pressure in the downstream petroleum market.
The latest adjustment comes amid rising global oil prices, with Brent crude trading at $114.80 per barrel. The increase represents a 3.15 per cent rise and is expected to have implications for fuel supply costs and pricing across the distribution chain, as market watchers monitor possible effects on pump prices.
The development adds to concerns over energy costs in Nigeria, where fuel pricing remains a major economic issue. Analysts are expected to watch how marketers and other operators respond to the new ex-depot rate, particularly as fluctuations in global crude prices continue to influence domestic petroleum costs.
READ THE FULL STORY IN DAILY POST
NEWS NOW:
- Uganda detains 62 Nigerians over alleged illegal church operations
- U.S. lawmaker slams Tinubu for spending $9M lobbying congress while christian genocide goes unaddressed
- ADC crisis: Kachikwu accuses David Mark of illegally hijacking party structure
- VIDEO: Boko Haram set to execute 416 women, children captives as 72-hours ultimatum expires