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Nigeria: Dangote increases the price of petrol to ₦1,275 per litre, marking the fifth increase in March.

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Dangote Petroleum Refinery has increased its petrol ex-depot price to ₦1,275 per litre, marking the fifth price hike in March 2026 alone, effective March 21.

The increase of 2.4% from ₦1,245 is attributed to the growing instability in the global oil market, which forces marketers to face increased costs and raises expectations for higher fuel prices.

The price has moved steadily upward from ₦1,175 earlier in the month, representing a total increase of ₦100, according to the reports. The new gantry price of ₦1,275 per litre and increased coastal prices took effect from midnight on March 21, 2026,.

The refinery cited global market realities, specifically geopolitical tensions in the Middle East and increased shipping costs, which have driven up international crude prices.

Marketers who possess valid bank guarantees are obligated to reconcile the price difference for the new loading costs by Monday, March 23, 2026. This modification comes in the wake of a prior increase to ₦1,245 per litre, which was disclosed only hours prior to this most recent rise, as reported by Daily Post Nigeria.

Following this latest hike, retail pump prices at independent stations like MRS, AA Rano, and others have risen to between ₦1,332 and ₦1,440 per litre.

 Experts caution that these increases are expected to exacerbate the cost of living by elevating transportation, food, and logistics costs throughout Nigeria.


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