Dangote Refinery has increased its gantry price for Premium Motor Spirit (PMS) to N1,275 per liter, citing rising global crude oil prices and escalating geopolitical tensions.
Findings by DAILY POST on Tuesday revealed that the 650,000 barrels-per-day facility raised its petrol price from N1,200 per liter, representing an increase of N75 or about five percent.
The adjustment comes after nearly a week of relative stability in domestic fuel prices, despite persistent fluctuations in the international oil market.
The refinery’s president, Aliko Dangote, had earlier reassured Nigerians and other African markets of uninterrupted fuel supply, even as tensions persist in the ongoing Iran–United States–Israel conflict.
Speaking during a recent tour of the refinery, Dangote said, “What I can do is assure Nigerians and most of West Africa, Central Africa, and East Africa that we have the capacity to supply them.”
The latest price hike follows a previous reduction in gantry prices on March 27, 2026, when global crude oil prices declined.
As of the time of filing this report, Brent crude and West Texas Intermediate were trading at $105 and $110 per barrel, respectively.
Meanwhile, former United States President Donald Trump on Tuesday issued a fresh warning over the Iran crisis, stating that “a whole civilization will die tonight,” further heightening global concerns over oil supply disruptions.
