Dangote Refinery has increased the ex-depot price of premium motor spirit (petrol) by N75, raising it from N1,200 to N1,275 per litre.
The adjustment, announced on Wednesday, also affects coastal regions, where the price now stands at N1,215 per litre.
The hike represents a 3.15% increase and comes amid sustained upward pressure in global energy markets. Brent crude traded at $114.80 per barrel before rising to $115, while West Texas Intermediate climbed to $103 per barrel on Wednesday.
Market analysts have linked the domestic price adjustment to the continued rally in international crude prices, which directly impacts refining margins and supply costs.
The latest move by the Lekki-based refinery signals further volatility in the downstream petroleum sector, with potential ripple effects on transportation and commodity prices across the country.
