Dangote Refinery Hikes Petrol to ₦1,175, Diesel to ₦1,620 in Fourth Price Review in Two Weeks

Dangote Petroleum Refinery has increased its ex-depot prices, raising petrol to ₦1,175 per litre and diesel to ₦1,620 per litre, marking the fourth consecutive price review in less than two weeks. The new pricing, communicated to marketers, represents a significant jump from the previous ₦995 for petrol and ₦1,430 for diesel...READ FULL; FROM THE SOURCE.

Also Read This Now: I̲P̲O̲B̲ ̲r̲e̲l̲e̲a̲s̲e̲s̲ ̲d̲e̲t̲a̲i̲l̲s̲ ̲o̲f̲ ̲$̲1̲9̲,̲0̲0̲0̲ ̲p̲a̲y̲m̲e̲n̲t̲ ̲t̲o̲ ̲K̲a̲n̲u̲’̲s̲ ̲e̲x̲-̲l̲a̲w̲y̲e̲r̲ ̲E̲j̲i̲o̲f̲o̲r̲

The hikes coincide with surging global crude benchmarks: Brent crude at $102.8 (+10.91%) and WTI at $101.0 (+11.08%) amid the escalating Middle East energy crisis. Oil prices soared 30% on Monday as the US-Israeli war against Iran continued into its second week, with the Strait of Hormuz, through which a fifth of global crude passes, remaining closed since February 28. President Trump has stated the spike is a “small price to pay” to eliminate Iran’s nuclear threat.

Key Points

Fourth price hike in two weeks: Petrol now ₦1,175 (from ₦995), diesel ₦1,620 (from ₦1,430).
Brent crude hits $102.8, WTI $101.0 as Middle East conflict escalates.
Oil prices soared 30% on Monday as war enters second week.
Strait of Hormuz remains closed, disrupting 20% of global crude flow.
Trump calls price spike “small price to pay” to eliminate Iran nuclear threat.

With petrol at ₦1,175 and diesel at ₦1,620, the fourth hike in two weeks, Nigerians face the brutal arithmetic of war: as long as the Strait of Hormuz stays closed and crude keeps climbing, the pump will keep bleeding.

Also Read This Now: I̲P̲O̲B̲ ̲r̲e̲l̲e̲a̲s̲e̲s̲ ̲d̲e̲t̲a̲i̲l̲s̲ ̲o̲f̲ ̲$̲1̲9̲,̲0̲0̲0̲ ̲p̲a̲y̲m̲e̲n̲t̲ ̲t̲o̲ ̲K̲a̲n̲u̲’̲s̲ ̲e̲x̲-̲l̲a̲w̲y̲e̲r̲ ̲E̲j̲i̲o̲f̲o̲r̲

Sources: Market Reports, Channels Tv