Fuel Sh*ck: Dangote Refinery Raises Petrol Price

The latest adjustment comes months after a similar review in April 2026, when the refinery increased the price to ₦1,275 per litre, citing shifts in global crude oil dynamics and market conditions.

The new development adds to ongoing concerns over rising fuel costs across the country, as many filling stations are reportedly selling petrol at rates approaching ₦1,400 per litre in several locations.

Industry factors such as fluctuations in international crude oil prices, persistent foreign exchange pressures, and supply chain constraints have continued to influence pricing in Nigeria’s deregulated downstream petroleum sector.

The increase was confirmed on Wednesday by a senior official of the Dangote Refinery as well as data from the pricing platform Petroleumprice.ng.

Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has reaffirmed that the Federal Government will not reinstate fuel subsidy, stating that the policy is considered economically distortive.

Speaking during a meeting in Paris, France, between President Bola Tinubu and international investors, Oyedele also ruled out the possibility of price controls on petrol, emphasizing that the government is committed to allowing market forces to determine pricing.

He noted that emerging global developments present opportunities for Nigeria to strengthen its energy positioning and attract investment into new markets.