Dangote Refinery Raises Petrol and Diesel Prices Again
Dangote Petroleum Refinery has increased the ex-depot price of petrol and diesel, marking another price adjustment in Nigeria’s fuel market.
According to a report by Petroleumprice.ng, the refinery has raised the price of Premium Motor Spirit (PMS), also known as petrol, to ₦1,175 per litre. The price of Automotive Gas Oil (AGO), commonly called diesel, has also increased to ₦1,620 per litre.
The report noted that this is the fourth price change by the refinery in less than two weeks, as global oil prices continue to fluctuate.
The rise in global oil prices has been linked to growing tensions in the Middle East, which have raised concerns about possible disruptions to oil supply.
Meanwhile, global oil prices jumped significantly on Monday, increasing by about 30 percent due to fears that the ongoing conflict involving the United States, Israel, and Iran could disrupt oil supply.
The conflict has now entered its second week with no clear sign of ending soon. US President Donald Trump said the crisis would only stop if Iran agrees to an “unconditional surrender.” He also described the recent rise in oil prices as a “small price to pay” to stop Iran’s nuclear threat, although the White House said the price surge is expected to be temporary.
