Dangote Petroleum Refinery has increased its ex-depot petrol price from ₦1,200 to ₦1,275 per litre, marking a ₦75 jump, while diesel has risen to ₦1,950 per litre from 1750 per litre making a ₦200 jump, Petroleumprice.ng confirmed.
The latest adjustment marks the first price hike this month coming after the refinery reviewed its prices eight times in the first quarter.
Market signals are already reflecting the impact, as several depots have pegged diesel prices at ₦2,000 per litre, indicating tightening supply conditions.
Following the hike, pump prices are expected to rise, with petrol projected to sell around ₦1,350 per litre and diesel likely to hit ₦2,500 per litre across retail outlets.