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Tag: petrol price

Oil and Gas

Dangote Refinery defends hike as petrol price hits ₦1,400/litre

The Dangote Petroleum Refinery has defended its latest fuel price increases, attributing the upward adjustments to the cost of crude oil purchased earlier and the lengthy process involved in securing, shipping and delivering crude to the refinery. The explanation came as the price of Premium Motor Spirit (petrol) climbed further across the country, with the […]

Oil and Gas

Petrol price rises 9% despite falling crude oil price

Despite a five per cent drop in crude oil prices to $87.31 per barrel from $92, the domestic price of Premium Motor Spirit, also known as petrol, rose by nine per cent to N1,310 per litre from N1,205 per litre yesterday. Vanguard reported that MRS, a major downstream player, increased its retail price to N1,310 […]

featured Oil and Gas

Dangote Refinery raises petrol gantry price to ₦1,200/litre

Dangote Petroleum Refinery and Petrochemicals FZE has increased the gantry price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per litre, effective August 26, 2026. According to The PUNCH, in an official communication to customers issued on Tuesday, the refinery’s Group Commercial Operations announced revised depot prices for gantry and coastal deliveries. The email, […]

featured Oil and Gas

Petrol depot prices drop nationwide amid rising competition

Petrol depot prices declined across major supply centres on Tuesday as marketers implemented fresh price cuts, signalling increased competition in the downstream petroleum market. Vanguard reported that an analysis of the mid-day depot price report showed that most major depots in Lagos, Warri, Calabar and Port Harcourt either reduced their prices or maintained existing rates, […]

featured Oil and Gas

Dangote Refinery resumes naira petrol sales at ₦1,215/litre

Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit, also known as petrol, in naira after a week suspension, ending uncertainty in the downstream sector over its temporary shift to dollar-denominated sales. Vanguard reported that the refinery has fixed its new ex-depot (gantry) price at N1,215 per litre, representing an increase of N140 […]

featured Oil and Gas

Dangote Refinery cuts petrol price by ₦1 as brent crude surges

Dangote Petroleum Refinery on Wednesday reduced its ex-depot price of Premium Motor Spirit, known as petrol, by N1 per litre. The price cut came even as diesel prices climbed across several petroleum depots in Lagos, reflecting mixed trends in Nigeria’s downstream petroleum market. Meanwhile, global crude oil prices surged sharply on Wednesday, with international benchmark […]

featured Oil and Gas

Dangote Refinery, marketers cut petrol, diesel depot prices

Nigeria’s downstream petroleum market witnessed another round of price reductions on Monday, with the Dangote Petroleum Refinery and several major fuel marketers lowering depot prices for Premium Motor Spirit, popularly known as petrol, and diesel. This development comes at the backdrop of pressures from the Federal Government as well as growing competition and improving product […]

featured Oil and Gas

Why pump prices don’t follow daily crude costs — Dangote Refinery

Dangote Petroleum Refinery and Petrochemicals says its product pricing is not tied to daily swings in global crude prices, addressing recent public and government pressure for marketers to cut fuel prices following the drop in international oil benchmarks. The clarification came in an official statement responding to calls from Nigerians and the Federal Government for […]

Policy and Regulations

Marketers threaten shutdown if FG enforces petrol price control

Fuel marketers have declared that their filling stations will stop selling petrol should the Federal Government try to enforce price control. The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, issued the warning on Tuesday during an interview with Vanguard. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, […]

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