By Our Correspondent

National News – Nigeria’s fuel market faced renewed pressure on Tuesday, April 7, 2026, as the Dangote Petroleum Refinery increased the gantry price of petrol and diesel, citing rising global crude oil prices and ongoing geopolitical tensions.

The refinery raised petrol by ₦75 to ₦1,275 per litre and diesel by ₦200 to ₦1,950 per litre. The adjustment, confirmed by a senior refinery official, reflects global market realities affecting energy pricing in Nigeria.

The refinery explained that the decision was influenced by volatility in international oil markets, particularly tensions in the Middle East that have pushed up crude oil benchmarks.

According to the official, petrol increased by about 5.02 percent from its previous price of ₦1,200 per litre, while diesel rose sharply from ₦1,750 per litre last month.

Industry data from Petroleumprice.ng confirmed the new petrol pricing structure, indicating that the refinery’s adjustment aligns with movements in the international oil market.

Analysts say the increase could push diesel prices beyond ₦2,000 per litre at retail stations if marketers transfer the additional cost to consumers.

The development comes despite expectations that local refining capacity would help stabilize domestic fuel prices.

Nigeria, though a major crude oil producer, still determines fuel prices largely based on international crude benchmarks, foreign exchange rates, logistics costs, and refinery operating expenses.

Experts note that while the refinery is expected to reduce reliance on imported fuel, domestic prices will continue to fluctuate as long as crude oil prices remain tied to global market trends.

Any perceived disruption in global supply routes, particularly from the Middle East, often triggers price spikes that ripple through the petroleum supply chain.

Consumers and businesses already struggling with high transportation and energy costs could face additional financial pressure if the new gantry rates translate into higher pump prices nationwide.

Economists warn that sustained increases in fuel costs may further accelerate inflation and increase operational costs across several sectors of the Nigerian economy.

The refinery’s price revision underscores how global energy developments continue to shape Nigeria’s local fuel market despite the presence of Africa’s largest refinery.