The Dangote Petroleum Refinery has increased the gantry price of petrol, to N1,175 per litre, marking another upward review in fuel pricing in Nigeria.
The latest adjustment, announced on Monday, marks a further increase in the refinery’s wholesale price and is expected to raise pump prices at filling stations nationwide.
Industry sources said the new price applies to marketers lifting petrol directly from the refinery’s gantry and could further push retail prices beyond current levels in many parts of the country.
DAILY NIGERIAN reports that the increment comes amid ongoing volatility in the downstream petroleum sector following the deregulation of the petrol market and fluctuations in global crude oil prices.
Oil marketers say increases at the refinery level usually translate to higher pump prices, as distributors factor in logistics, transportation, and operational costs before selling to consumers.
The new gantry price may therefore lead to petrol selling for between N1,250 and N1,350 per litre at filling stations, depending on location and distribution costs.
The development is also expected to intensify pressure on households and businesses already grappling with rising transportation and production costs.
Analysts note that pricing by the Dangote refinery has become a major determinant of fuel prices in Nigeria since the facility began large-scale supply of petrol to the domestic market.
The refinery, owned by billionaire industrialist Aliko Dangote, is Africa’s largest single-train refinery and plays a critical role in Nigeria’s efforts to reduce reliance on imported petroleum products.
