🔥 Trending Nigeria's Petrol Price Surge: What You Need to Know About the N1,400/Litre Hike

The retail price of petrol in Nigeria has recently escalated to as high as N1,400 per litre across various parts of the country ³⁵⁶. This increase follows a surge in global crude oil prices ³⁵.

Dangote Refinery's Role and Price Adjustment

The Dangote Petroleum Refinery, a significant player in Nigeria's fuel market, resumed gantry loading of Premium Motor Spirit (PMS), also known as petrol, in Naira after a brief suspension ¹²⁷. Following this resumption, the refinery adjusted its ex-depot price from N1,075 to N1,215 per litre ²⁴. This represents a 13.02% increase ²⁴.

While Dangote Refinery's ex-depot price is N1,215 per litre, retail prices for consumers have climbed higher, reaching between N1,200 and N1,300 per litre in major cities like Lagos, and up to N1,400 per litre nationwide ³⁵⁶⁸.

Impact on Nigerians

The sharp rise in petrol prices has led to increased transport fares across the country, exacerbating the cost of living for many Nigerians ³⁵⁶. This situation is largely attributed to the rally in global crude oil prices, which has been influenced by factors such as escalating conflict in the Middle East ⁶.

Context of Global Oil Prices

As of July 25, 2026, global oil prices have been volatile. While some reports indicate a slip from $100 as OPEC signals more supply, this volatility has kept petrol prices elevated in Nigeria ⁸. For comparison, the national average for gasoline in the United States on the same date was approximately $4.1110 per gallon (which translates to roughly $1.08 per litre, though direct comparison is complex due to different market dynamics and currencies) ¹⁰.