The Dangote Petroleum Refinery has raised its ex-gantry price for petrol to N874 per litre.
Sources within the facility disclosed that the refinery increased the price by N100, moving it from N774 per litre to the new rate of N874.
“The refinery increased its ex-gantry petrol price to N874 per litre,” a source said.
The price adjustment comes amid a sustained rise in global oil prices, with Brent crude climbing to about $79 per barrel, driven by heightened geopolitical tensions in the Middle East affecting the oil and gas market.
Earlier on Monday, QatarEnergy, Qatar’s state-owned energy firm, announced a suspension of liquefied natural gas (LNG) production following Iranian military strikes on its operational facilities.
Similarly, Saudi Aramco shut down its Ras Tanura refinery after debris from an Iranian drone attack triggered a fire at the site.
On Sunday, leading global container shipping companies halted voyages through the Strait of Hormuz and the Suez Canal due to growing security concerns across the Middle East.
US-Israeli attacks on Iranian positions reportedly resulted in the deaths of Ayatollah Ali Khamenei and Abdolrahim Mousavi, Iran’s supreme leader and chief of staff of the armed forces, respectively.
In retaliation, Iran has launched multiple missile strikes across the region, raising fears of a broader conflict involving neighbouring countries.