Dangote Refinery Petrol Price Hike Sparks Fears of Rising Inflation
Korede Abdullah 
LAGOS, Nigeria – Nigeria faces renewed inflation fears after the Dangote Petroleum Refinery raises the gantry price of Premium Motor Spirit (PMS) to ₦1,175 per litre, marking the third price increase within a week.
The refinery notifies petroleum marketers of the new price on Monday, up from ₦995 per litre announced on Friday, intensifying concerns over transportation costs and the price of goods nationwide.
The latest adjustment represents a ₦180 increase, or about 18.1 per cent, in three days, further straining households and businesses already struggling with high living costs.
Earlier at the weekend, the refinery had increased its petrol price from ₦874 to ₦995 per litre, pushing pump prices above ₦1,000 per litre in several parts of Nigeria.
Industry analysts warn that the fresh increase could trigger another round of price adjustments across sectors dependent on fuel for production and logistics.
Energy analysts say petrol price volatility often translates directly into higher transportation fares and increased manufacturing costs, which eventually push up the prices consumers pay for goods and services.
The refinery also revises the gantry price of Automotive Gas Oil (diesel) to ₦1,620 per litre, adding pressure to Nigeria’s energy market.
Economists say the simultaneous increase in petrol and diesel prices could amplify inflationary pressure as transport operators, manufacturers and service providers adjust their prices to offset rising fuel costs.
For millions of Nigerians, fuel price increases have become a key driver of the cost-of-living crisis, affecting everything from food distribution to daily commuting.
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Chukwu Obinna 
Otamere Gladness 
Oluwatobi Adu