Motorists in Nigeria are facing another increase in petrol prices after several filling stations adjusted their rates on Saturday.
This move follows a decision by the Dangote Refinery to raise its depot, or “gantry,” price by N70, bringing it to N1,245 per litre on Friday.
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In the capital city of Abuja and surrounding areas, MRS filling stations were observed selling petrol for N1,367 per litre, a significant N100 jump from the previous price of N1,267.
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Other retailers followed suit, with Ranoil increasing its price to N1,440, Empire Energy to N1,430, and AA Rano to N1,370 per litre.
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A manager at an MRS station, who spoke on the condition of anonymity, confirmed the price adjustment in a telephone interview.
“MRS filling stations now sell at N1,367 per litre, an N100 per litre increase from N1,267,” he stated. “This is because of Dangote Refinery’s latest gantry petrol price increment to N1,275 per litre.”
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With these changes, the price of petrol at most private stations now ranges between N1,367 and N1,440 per litre.
However, retail outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) have maintained their price at N1,261 per litre.
This marks the fourth price hike from the Dangote Refinery, a facility that supplies a significant portion of the nation’s fuel.
According to February data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the refinery accounts for 61 percent of Nigeria’s domestic petrol consumption, making its pricing decisions highly influential.
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The domestic price surge is linked to a spike in global crude oil prices, which climbed above $110 per barrel on Saturday.
This global trend is largely attributed to the economic fallout from geopolitical tensions involving Iran, the United States, and Israel.
