Fourth price hike in March: Dangote Refinery raises petrol to ₦1,245 per litre
Fourth price hike in March: Dangote Refinery raises petrol to ₦1,245 per litre
The Dangote Refinery has increased the price of petrol to ₦1,245 per litre, marking the fourth price adjustment in March amid continued volatility in global crude oil markets.
Industry sources said the latest hike reflects sustained pressure from rising international crude oil prices, driven largely by geopolitical tensions involving Iran, Israel, and the United States.
Read also: Oil climbs above $100 as Iran war disrupts supply
The new price represents a further increase from the refinery’s earlier adjustments within the month, raising concerns among consumers and businesses over the rising cost of fuel.
Petroleum marketers indicated that the increase is likely to push pump prices even higher across the country, with retail prices expected to exceed ₦1,300 per litre in some areas depending on distribution and logistics costs.
Officials at the Dangote Refinery attributed the price adjustment to global market realities, including higher crude oil costs and supply uncertainties.
Energy analysts warn that continued instability in the Middle East could sustain upward pressure on fuel prices, with broader implications for transportation, food prices, and overall cost of living in Nigeria.
The repeated hikes have intensified public concern, as Nigerians grapple with the economic impact of rising energy costs.
