The Digest:
Nigerian filling stations have increased petrol prices hours after Dangote Refinery raised its gantry petrol price. MRS, BOVAS, and other stations adjusted prices to N1,370 and N1,365 per litre in Abuja, up from N1,292 and N1,295, an increase of N75 to N78 per litre. The hike follows Dangote Refinery's N75 per litre increase due to a surge in crude oil prices above $115 per barrel after the UAE exited OPEC.
Key Points:
- Nigeria remains vulnerable to crude oil price volatility from the Middle East crisis.
- Fuel prices have risen significantly from around N800 to nearly N1,400 per litre since February 2026.
- Dangote Refinery raised its gantry price from N1,200 to N1,275 per litre.
- The UAE's exit from OPEC contributed to the crude price surge.
- The price hike affects consumers across the country.
Sources: Daily Post Nigeria, Daily Trust
