Nigeria’s downstream petroleum market recorded a fresh price adjustment on Wednesday as Dangote Petroleum Refinery increased its ex-depot petrol price by N75 per litre, in a move that reflects rising global crude oil costs and shifting cost dynamics in the energy sector.
The refinery raised the ex-depot price from N1,200 to N1,275 per litre, while coastal pricing also moved higher to N1,215 per litre, indicating a broad-based upward adjustment across distribution channels.
The latest revision comes as global oil benchmarks continue their upward trajectory. Brent crude traded at $114.80 per barrel during the period under review, while West Texas Intermediate (WTI) rose to $103 per barrel. Brent has since edged further to $115 per barrel, underscoring sustained pressure in international energy markets.
The 3.15% increase in the pricing structure highlights how global crude movements are feeding directly into downstream pricing decisions, with implications for revenue flows and margin performance across refining operations.
For operators like Dangote Refinery, higher ex-depot pricing typically signals improved revenue potential per litre sold, although it also reflects increased feedstock costs tied to crude oil imports and global benchmark pricing.
Market analysts note that sustained strength in crude prices may continue to influence domestic fuel pricing structures in the near term, with downstream operators adjusting rates to align with international market realities and protect profitability margins.