Fuel prices have climbed again across parts of Nigeria, with several retail outlets adjusting their pump rates in response to a recent increase in ex-depot prices by the Dangote Refinery.
The refinery, with a capacity of 650,000 barrels per day, raised its gantry price to ₦1,175 per litre last Friday, triggering a ripple effect across its partner retail networks. One of its key distributors, MRS Oil Nigeria Plc, has since increased its petrol pump price in multiple locations nationwide.
In Abuja, MRS filling stations adjusted their pump price to ₦1,267 per litre, up from ₦1,167—reflecting a ₦100 increase that aligns directly with the refinery’s upward price review. A station manager, who spoke anonymously, confirmed that the adjustment was a direct consequence of the higher gantry price.
The trend is not isolated. Optima Energy also revised its pricing, raising petrol from ₦1,220 to ₦1,270 per litre, further illustrating how supply-side changes are shaping retail costs across the sector.
Meanwhile, outlets operated by the Nigerian National Petroleum Company Limited have maintained slightly lower prices, selling petrol at around ₦1,261 per litre in Abuja—marginally cheaper than competitors such as MRS and Optima.
Other marketers, including AA Rano Nigeria Limited, NIPCO Plc, Eterna Plc, Mobil Nigeria, Empire Energy, and Raniol Oil, are dispensing petrol within a broader range of ₦1,270 to ₦1,330 per litre across Abuja and surrounding areas.
The upward price movement comes amid continued volatility in the global oil market, driven in part by geopolitical tensions linked to the ongoing Iran–United States–Israel crisis, which escalated in late February 2026. The instability has contributed to rising crude oil benchmarks, with Brent crude trading at approximately $97.39 per barrel and West Texas Intermediate at about $103.70 per barrel as of Tuesday morning.
Analysts say the combination of higher crude prices and adjustments at the refinery level is likely to sustain pressure on domestic fuel prices in the near term, raising concerns for consumers already grappling with elevated living costs.