The Dangote Petroleum Refinery has reviewed its ex-gantry price for premium motor spirit (petrol), increasing it to N874 per litre amid rising global crude oil prices.
Sources familiar with operations at the facility disclosed that the refinery adjusted the price upward by N100, moving from N774 per litre to the new rate.
“The refinery increased its ex-gantry petrol price to N874 per litre,” a source confirmed.
The adjustment follows renewed volatility in the international oil market, where Brent crude prices have climbed to about $79 per barrel due to escalating tensions across the Middle East, a development already affecting global energy supply chains.
Earlier on Monday, QatarEnergy, Qatar’s state-owned energy firm, announced a suspension of liquefied natural gas (LNG) production after Iranian military strikes targeted some of its operational facilities.
Similarly, Saudi Arabia’s national oil company, Saudi Aramco, shut down operations at the Ras Tanura refinery after debris from an Iranian drone attack reportedly triggered a fire at the site.
The worsening security situation has also disrupted global shipping activities, with major container shipping companies halting voyages through critical routes such as the Strait of Hormuz and the Suez Canal over safety concerns.
The tensions escalated following joint military strikes by the United States and Israel on Iranian targets, which reportedly killed Ayatollah Ali Khamenei and Iran’s armed forces chief of staff, Abdolrahim Mousavi.
Iran has since launched retaliatory missile attacks across parts of the region, raising fears of a broader regional conflict with potential consequences for global oil supply and pricing.
