Title: Dangote Refinery Raises Petrol Price to N1,175 per Litre in Fresh Hike Date Published: 09 March 2026 Description: Nigeria may witness another surge in the cost of goods and services after the Dangote Petroleum Refinery increased the gantry price of Premium Motor Spirit (PMS), also known as petrol, to N1,175 per litre.The latest adjustment, announced to marketers on Monday, represents the third price increase within a week and reflects the growing volatility in the downstream petroleum market.The refinery raised the gantry price from N995 per litre announced on Friday to N1,175 per litre, marking an increase of N180 or about 18.1 per cent within three days.It also reviewed the gantry price of Automotive Gas Oil, commonly known as diesel, to N1,620 per litre.A senior official of the refinery, who spoke on condition of anonymity because he was not authorised to comment publicly, confirmed the new pricing to marketers and depot operators.According to the official, the adjustments were necessitated by changes in market conditions and rising replacement costs in the global oil market.“The market has been extremely volatile and replacement costs have shifted significantly in recent days. These adjustments reflect the prevailing market realities and the cost environment we are operating in,” the official said.Industry checks on the petroleum pricing platform petroleumprice.ng indicated that the revised gantry prices had already been reflected across several depot pricing systems used by downstream marketers.The new price marks the third surge in petrol prices within a week, following earlier adjustments that moved the gantry price from N774 to N995 per litre.As a result, retail pump prices in several parts of the country have already crossed the N1,000 per litre mark, with some filling stations reportedly dispensing petrol at around N1,200 per litre.Analysts say the latest hike could trigger another round of price increases across sectors of the economy, as higher fuel costs typically lead to rising transportation, logistics and production expenses.The development also comes amid efforts by the Nigerian National Petroleum Company Limited and the Federal Government to secure steady crude oil supply for the refinery through international traders in order to sustain domestic refining operations.However, industry officials warn that such interventions may not immediately translate into lower pump prices for consumers.Many Nigerians continue to grapple with high energy costs following repeated price adjustments linked to operations at the $20 billion Lekki-based refinery built by billionaire industrialist Aliko Dangote. Attached Images: f310259863da20a99d0adba5aaaff773c6f58ef977a2df88a9ab1f825cf0c82d.jpg Attached Video: None