Dangote Refinery Jumps Petrol Price to N1,350 Amid Crude Oil Slump

The Dangote Petroleum Refinery has increased its premium motor spirit (petrol) price for the fourth time in less than four months, raising it to N1,350 per litre. This is despite international crude oil prices being below their peak during the March surge.

The refinery's gantry price had already risen from N1,165 to N1,265 on August 29, and now stands at its highest level since the refinery came into operation in 2024.

Brent crude is currently trading around $104 per barrel, but Dangote has raised its petrol gantry price by N85. This means the refinery is charging a higher ex-depot/gantry price for petrol at a lower crude oil price than during the previous oil price spike.