Dangote increases price in fuel
Dangote increases price in fuel
By Okunlola Christiana Omolola
As of March 2026, fuel prices in Nigeria have surged to over ₦1,300 per litre in many parts of the country, driven by a fresh round of increases in the gantry price of Premium Motor Spirit (PMS) by the Dangote Petroleum Refinery. The hike is linked to rising global crude oil prices, which have crossed $100 a barrel due to Middle East tensions, causing significant hardship for citizens and increasing transportation costs.
Key Details on Fuel Price Increase (March 2026):
- Current Prices: Petrol prices jumped to around ₦1,300 per litre in various parts of the country, up from approximately ₦1,050–₦1,100 per litre just days earlier.
- Refinery Price: The Dangote Refinery recently adjusted its prices to ₦1,175 per litre for petrol, with some adjustments to ₦1,075 later reported.
- Causes: The surge is largely attributed to instability in the global oil market, which pushed Brent crude prices above $100 per barrel, combined with the removal of fuel subsidies.
- Impact: The rising costs have led to a more than 100% increase in transport fares on some routes and further driven up inflation, affecting food and commodity prices.
Source: Daily Trust
