Nigerians may face fresh pressure at the filling stations as the Dangote Petroleum Refinery has increased its petrol gantry price to N1,350 per litre, just two weeks after its last adjustment.
The latest N85 increase, which takes effect Saturday, is the fourth upward review by the refinery since August 21, pushing up its petrol price by N185, or 15.9 per cent, in 22 days.
The refinery had initially priced petrol at N1,165 per litre on August 21 before increasing it to N1,185, N1,200 and then N1,265 on August 29.
The latest adjustment was contained in a circular issued to customers by the refinery’s Group Commercial Operations on Friday.
The company also raised its coastal petrol price from N1,669,545 to N1,783,530 per metric tonne.
The circular stated, “Gantry (LTR): The old price of ₦1,265 per litre has been revised to ₦1,350 per litre.”
Dangote also instructed customers to return existing Authority to Collect documents for repricing, adding that new volume contracts would be issued for immediate loading.
The latest increase comes against the backdrop of a sharp rise in international crude oil prices, with Brent crude recently trading above $104 per barrel after crossing $107 earlier.
The surge has been driven largely by concerns over disruptions to global oil supplies and shipping through the Strait of Hormuz amid the escalating United States-Iran confrontation.
With the Dangote refinery accounting for a significant share of domestic petrol supply, the latest increase could translate into higher costs across the downstream market, depending on the pricing decisions of marketers.
The refinery had not issued further public clarification on the latest price adjustment as of Saturday morning.