Dangote refinery increases the price of its fuel again: here is why
Dangote Petroleum Refinery has increased the wholesale price of petrol by ₦140 per litre on July 23, 2026, raising its ex-depot rate from ₦1,075 per litre to ₦1,215 per litre as it resumed truck loading in local currency.
The 13.02% price hike follows a one-week pause during which the facility temporarily changed to dollar-denominated sales to cope with operational challenges under the federal government naira-for-crude framework.
Global crude costs push domestic prices higher
The primary cause for the refinery price increase stems from a rapid increase in international crude oil prices, which directly elevates the cost of producing refined petroleum products.
Rising global prices placed sustained cost pressure on refining operations, necessitating higher wholesale rates for local off-takers.
Prior to pausing operations, the refinery explained that its temporary move to dollar-denominated sales was driven by difficulties in obtaining sufficient local crude oil under the government’s Naira-for-crude deal.
Retail price adjustments and market impact
Resuming Naira loading restores stability to the downstream sector and is expected to ease distribution delays. During the brief suspension, independent marketers relied heavily on private depots, where wholesale prices jumped to ₦1,350 per litre.
According to Vanguard, retail filling stations across major hubs including Lagos, Port Harcourt, Warri, and Calabar have adjusted pump prices to between ₦1,300 and ₦1,400 per litre.