Dangote Refinery Raises Petrol Price to N865 Despite Falling Crude Oil Prices.
Dangote Refinery has increased the price of petrol to N865 per liter, marking a N50 hike from its previously announced price of N815. This adjustment comes shortly after the suspension of the crude-for-naira deal with the federal government.
Despite a drop in global crude oil prices to $59 per barrel as of yesterday, the cost of refining petrol remains high. This is largely due to the increased expenses associated with importing crude oil in U.S. dollars.
Earlier in 2025, the refinery had implemented three price reductions, with the last bringing the pump price down to N815 per liter. However, the recent changes in market dynamics have reversed that trend.
Oil marketers, including MRS, have now begun lifting products from the refinery, which boasts a capacity of 650,000 barrels per day.
While industry experts had anticipated lower petrol prices in response to the declining crude oil rates, these expectations have been offset by the persistent high cost of refining.