Dangote Petroleum Refinery raised its petrol gantry price from N1,265 to N1,350 per litre, effective September 12, 2026. Filling stations adjusted pump prices to N1,395 per litre.
This is the fourth hike since August 21, raising prices by N185 (15.9%) in 22 days. The increase follows crude oil prices above $104 amid US-Iran tensions disrupting supplies through the Strait of Hormuz. Officials did not respond to inquiries.
Key Points:
Nigerians face higher transport, food, and household costs.
Businesses grapple with rising logistics and production expenses.
Dangote Refinery gains; consumers and small businesses lose.
Repeated hikes expose Nigeria’s vulnerability to global oil shocks.
Timing before festive season could worsen cost-of-living pressures.
Fuel prices may continue rising if crude remains elevated. Nigerians should anticipate higher transport fares and prepare for broader cost increases.
