Fuel prices rise nationwide as filling stations adjust to Dangote Refinery hike

Several Nigerian filling stations, including MRS Oil Nigeria Plc, have increased petrol pump prices following a fresh hike by Dangote Refinery.

The price adjustments came less than 24 hours after the refinery raised its gantry price of Premium Motor Spirit by ₦70 to ₦1,245 per litre.

Checks in Abuja showed that MRS stations raised pump prices by ₦100 to ₦1,367 per litre from ₦1,267. Other marketers, including Ranoil Nigeria Limited, Empire Energy, and AA Rano Nigeria Limited, also adjusted their prices to ₦1,440, ₦1,430, and ₦1,370 per litre, respectively.

A manager at an MRS station confirmed the development, attributing the increase to the refinery’s latest price adjustment.

The new pricing means petrol is now selling between ₦1,367 and ₦1,440 per litre across various outlets, while Nigerian National Petroleum Company Limited retail stations have maintained a lower price of about ₦1,261 per litre.

The latest increase is expected to worsen cost pressures on consumers, as the Dangote Refinery currently supplies about 61 per cent of Nigeria’s domestic petrol consumption, according to industry data.

Analysts link the rising domestic fuel prices to the surge in global crude oil prices, which climbed above $110 per barrel amid tensions involving the United States, Israel, and Iran.