Nigeria’s downstream petroleum market witnessed another sharp round of price increases on Wednesday, as major filling stations adjusted pump prices upward in response to higher ex-depot rates from Dangote Petroleum Refinery and rising global crude oil costs.
Fuel marketers including MRS, BOVAS and other retail operators quickly revised pump prices to between N1,365 and N1,370 per litre in Abuja, up from previous levels of N1,292 and N1,295. The adjustment reflects an increase of roughly N75 to N78 per litre across outlets.
The upward revision came just hours after Dangote Refinery increased its gantry petrol price by N75 per litre, moving from N1,200 to N1,275, following a surge in global crude oil prices.
The refinery linked its adjustment to international market dynamics, with Brent crude trading above $115 per barrel amid broader supply pressures. The development was also influenced by geopolitical tensions in key oil-producing regions and shifts in output policy among major producers, including the United Arab Emirates’ exit from the Organization of the Petroleum Exporting Countries (OPEC).
Nigeria remains highly exposed to global oil price volatility due to its reliance on imported refined products and crude-linked pricing structures. Analysts note that recent instability in the Middle East has further amplified cost pressures across the domestic fuel supply chain.
Since February 2026, petrol prices have climbed sharply from around N800 per litre to nearly N1,400 at peak levels, underscoring the scale of inflationary pressure hitting transport costs, logistics, and consumer spending.
The latest round of increases highlights how quickly upstream pricing decisions are transmitted through Nigeria’s downstream market, with marketers adjusting retail prices in near real time to preserve margins amid volatile input costs.