Nigerians would have to face another round of premium motor spirit (petrol) nationwide price hike after Dangote Refinery, on Friday, announced yet another gantry price increment, the fourth time in March 2026 and since the Iran-United States-Israel war escalation.
The 650,000-barrel-per-day refinery in a circular to marketers said it has adjusted its pump price upward to N1,245 per liter from N1,175 per liter.
Dangote’s latest fuel price hike was contained in a notice issued on Friday.
The gantry price increased from N1,175 per liter to N1,245 per liter,” the refinery stated in the notice, noting that the new price would take effect from Saturday, 21st March 2026.
The refinery blamed the hike on the global geopolitical situation in the Middle East, which caused Brent and West Texas Intermediate crude blends to surge to $112 and $98 per barrel as of Saturday morning.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria and the Natural Oil and Gas Suppliers Association of Nigeria, Chinedu Ukadike, confirmed the latest price hike
Dangote Refinery has increased its petrol price four times so far this March, from N774 to N875, then N995, N1,175, and now to the latest hike of N1,245 per liter.
This means that marketers and retailers who rely on Dangote petrol would have to increase their petrol retail pump to fit into the latest adjustment.
Recall that Nigerian Midstream and Downstream Petroleum Regulatory Authority industry data released on March 10 showed that Dangote Refinery supplied 61 percent, which is 39.6 million liters per day, of the country’s 64.9 ml/d domestic petrol supply for February 2026.
By implication, the majority of Nigerians would have to spend more to get fuel from Saturday.
This means that petrol price would surge by around N70 to between N1,331 and N1,400 from N1,261 and N1,330 per liter sold on Friday night in Abuja.
