Fuel Prices Rise Again as Marketers Respond to Dangote Refinery Price Increase

Fuel Prices Rise Again as Marketers Respond to Dangote Refinery Price Increase

Petrol prices across Nigeria are expected to rise to at least ₦1,332 per litre following fresh adjustments by marketers reacting to a new pricing template linked to the Dangote Petroleum Refinery. The development signals another round of fuel price increase in Nigeria, as downstream operators respond to higher ex-depot rates and shifting supply dynamics.

The latest adjustment emerged after MRS Oil Nigeria Plc issued a revised pricing notice to its dealers, setting its petrol pump price at ₦1,332 per litre. The company also fixed company delivery at ₦1,290 per litre and self-collection at ₦1,282 per litre. According to the notice, all loading operations will be carried out directly from the Dangote refinery, further reinforcing the refinery’s growing influence in Nigeria’s petroleum distribution market.

The upward review follows a series of incremental increases in the refinery’s ex-depot pricing. Within the month, the refinery raised its gantry price from earlier levels to about ₦1,275 per litre, representing multiple adjustments in quick succession. These repeated changes have continued to push fuel prices higher nationwide, as marketers recalibrate their retail rates to reflect current costs.

Coastal pricing has also been revised upward, reflecting broader cost pressures associated with global shipping, crude sourcing, and logistics. These changes indicate that Nigeria’s fuel pricing structure remains closely tied to both domestic refining costs and international market conditions, particularly fluctuations in global crude oil prices.

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The rapid succession of price revisions highlights increasing volatility in the downstream sector. Industry data suggests that the refinery has adjusted its pricing template several times within March alone, with successive increments affecting both gantry and coastal rates. Each adjustment has contributed to a cumulative rise in petrol costs, leaving marketers with little room but to pass on the increases to consumers.

Nigeria’s reliance on domestic refining is gradually reshaping the fuel supply chain. The Dangote refinery, with a capacity of 650,000 barrels per day, is becoming a central hub for both local consumption and regional fuel distribution. Its pricing decisions now play a significant role in determining petrol pump prices in Nigeria, as marketers source products directly from its loading terminals.

At the same time, global factors continue to influence domestic pricing. Ongoing geopolitical tensions affecting key oil transit routes, combined with fluctuations in international crude oil markets, have contributed to supply uncertainties. These external pressures, alongside exchange rate movements and freight costs, are key drivers behind the sustained increase in fuel prices in Nigeria.

The impact of rising petrol prices is already being felt across transportation, logistics, and household expenses. As fuel remains a major cost component in the economy, higher pump prices typically translate into increased fares, elevated goods prices, and broader inflationary pressure.

In addition to petrol, diesel prices have also been adjusted upward, with Automotive Gas Oil reportedly rising to around ₦1,750 per litre. This increase is expected to affect industries, power generation, and businesses that depend heavily on diesel for operations, further compounding the economic impact of rising energy costs.

With marketers already updating their pricing structures, consumers are expected to see new pump prices implemented across filling stations nationwide in the coming days. Analysts warn that further adjustments may occur if refinery prices continue to fluctuate or if global oil market conditions remain unstable.

Fuel Prices Rise Again as Marketers Respond to Dangote Refinery Price Increase