The Digest:
Retail fuel prices across Nigeria have remained largely unchanged over the past week, ranging between N1,290 and N1,370 per litre, despite ongoing volatility in global crude oil markets. The gantry price at Dangote Refinery remained at N1,200 per litre, while depot owners sold at ex-depot prices between N1,220 and N1,230. Global oil benchmarks rebounded about 3% to $96-$97 per barrel after a 14% drop following US-Iran ceasefire reports. Dangote confirmed the refinery received 10 crude cargoes from NNPC in March 2026.
Key Points:
- Prices remained stable at NNPCL, MRS, NIPCO, Total, and other stations nationwide.
- The Iran-US conflict has triggered oil market volatility over the past six weeks.
- Brent crude and WTI rebounded after the ceasefire news.
- Dangote Refinery's steady gantry price helped stabilise retail costs.
- Consumers face no immediate price hike despite global swings.
