After Dangote Refinery increased the price of its gantry fuel to N1,175 per liter for petrol and N1,620 per liter for diesel on Monday, the price of premium motor spirit increased to N1,400 per liter and Automotive Gas Oil (diesel) to N1,750, putting Nigerians in grave danger.
According to reports, President Bola Ahmed Tinubu has remained silent and taken no action to reduce the increase in fuel prices.
In the presidency, silence
As of the time the article was filed, Sunday Dare, the presidential spokesperson, had not responded to the reporter’s inquiry regarding the rising cost of petrol.
According to checks conducted on Monday night, the rates of gasoline and diesel at Ranoil, Empire, and other filling stations in Abuja and the surrounding area have been promptly increased to between N1,350 and N1,400 per liter.
The cost of a liter of diesel is N1,750.
In Abuja, the price of diesel may need to increase from approximately N1,365 per liter to as much as N1,750 per liter.
Fuel is sold at MRS Filling Station for N1,200 per litre.
The petrol price at an MRS filling station in Abuja would increase from N1,092 per liter to N1200 per liter starting on Tuesday, March 10, 2026, according to a management who wished to remain anonymous.
“We will begin selling petrol tomorrow (Tuesday) at N1200 per liter. He said, “We didn’t have gas on Monday.”
Prior to the escalation of the Iran-United States-Israel conflict on February 28, 2026, Nigerian National Petroleum Company Limited retail locations and other filling stations reportedly saw an increase in petrol prices of N525 per liter.
As of Monday night, Dangote Refinery’s gantry pricing had increased by N376 per liter over the previous 10 days to N1,175 per liter.
The refinery blamed the unpredictability of the world’s crude prices for Monday’s increase in gantry prices.
According to reports, West Texas Intermediate fell to $88.11 per barrel while Brent crude increased by 6.76 on a daily basis to $98.86 per barrel after it appeared that US President Donald Trump had hinted at a proposal to stop hostilities with Iran.
As the price of WTI crude declines, Trump suggests that the war might cease.
“I think the war is very complete, pretty much,” Trump stated in an interview with CBN News, adding that the US was “very far ahead of schedule.”
His remarks caused WTI crude to drop below 90 per barrel on Monday, marking the first drop since the Gulf War intensified, causing tension in the Strait of Hormuz canal and closing refineries in Saudi Arabia and Qatar.
Impact of Nigerians’ increased transportation costs
As a result of Dangote Refinery’s price adjustment to N1,175 and the retail price of gasoline to a maximum of N1,400 per liter and diesel at N1,750 per liter, a number of transporters in Abuja confirmed an increase in transportation fares.
Taxi driver Adamu Abubakar, who operates the Deidei to Area 1 route, said that his fare has increased from N1,200 to N1,500 each trip.
“The majority of the increase in fuel prices would affect our passengers,” he stated.
The increase in transit fares was confirmed by Abuja passenger Constance Onuoha.
She stated, “The government must step in to stop the fare increase brought on by the increase in fuel prices from getting out of control.”
According to reports, the increases could have an effect on manufacturers as well because the increase in diesel prices could lead to an increase in product prices in the days ahead.
Diesel fuel could cost N2,000 or N3,000 per liter—PETROAN
Billy Gillis-Harry, national president of the Petroleum Products Retail Outlets Owners Association of Nigeria, discussed the trend and warned that if nothing is done, the price of gasoline and diesel could reach N2,000 and N3,000 per liter.
“We have a deal in place for Naira for crude,” he declared. On the global crude oil market, the policy has no effect on the price of crude oil.
The dollar is only being saved by the strategy since imports determine the currency’s volatility. Due to the realities of the market, Dangote has tripled the price of the gasoline gantry.
“For this reason, we have pushed the regulators to pursue a program of price stability without price regulation,” he said.
When petroleum marketers speak, they solely discuss the advantages of the Dangote Refinery with Nigerians.
According to Chinedu Ukadike, a representative for the Nigerian Oil and Gas Suppliers Association (NOGASA) and the Independent Petroleum Marketers Association of Nigeria, marketers would sell gasoline at the price they purchased from depot owners and the Dangote Refinery.
We are self-employed marketers. The owners of the depot and Dangote Refinery provide us with everything we sell.
The Dangote Refinery’s sole advantage is that there won’t be a gasoline shortage.
“Because the commodity would have been scarce, you will be getting it at N1,800 per liter instead of N1,200,” he explained.
