The Dangote Petroleum Refinery has raised its gantry price of fuel by N75 from the previous N1,200 to now N1,275 per litre, representing 5.02 per cent increase.
It also increased the price of diesel to N1,950 per litre from N1,750.
These were communicated to the refinery’s marketers late last night.
Data from Petroleumprice.ng also confirmed the gantry prices increases.
An officiary of the refinery who did not want to be named as he was not authorised to speak on the matter attributed the increment to energy volatility in the global market, owing to Middle East crises.
He said: “The adjustment is in line with global market trends. You are aware of the ongoing tensions in the Middle East and how they have impacted crude oil prices. These are external factors that directly influence refined product pricing.
“Petrol has been reviewed upward by N75 to N1,275 per litre, which is about a five per cent increase, while diesel has increased more significantly by N200 to N1,950 per litre. These changes reflect the realities of the international market.”