Dangote Refinery Raises Petrol Price to N1,175, Diesel to N1,620

The Dangote Petroleum Refinery has increased the ex-depot prices of its refined petroleum products, raising petrol to N1,175 per litre and diesel to N1,620 per litre.

The refinery, announced the price adjustment amid shifting conditions in Nigeria’s downstream petroleum market.

The revised ex-depot prices are expected to influence pump prices nationwide as fuel marketers adjust their retail rates.

With a refining capacity of 650,000 barrels per day, the Dangote refinery remains Africa’s largest refining facility and a major supplier of petroleum products to the domestic market.

The adjustment comes as Nigeria continues to operate a deregulated fuel market following reforms introduced by the administration of Bola Tinubu.

Fuel prices have remained sensitive to fluctuations in crude oil prices, foreign exchange rates and supply costs within the petroleum value chain, with the latest increase likely to impact transportation and commodity prices in the coming days.

The new price is expected to influence pump prices at filling stations across the country in the coming days as marketers adjust to the updated rates.

The Dangote refinery has been seen as a key component of Nigeria’s strategy to reduce reliance on imported petroleum products and strengthen domestic refining capacity.