Dangote Refinery has raised the price of petrol to N865 per litre, up N50 from its earlier rate of N815 per litre, following the suspension of the naira-for-crude agreement with the federal government. Oil marketers, such as MRS, have started collecting petrol from the facility, which boasts a 650,000-barrel-per-day capacity. This marks a reversal from the refinery’s third price cut of 2025, when it dropped to N815 per litre.
Although crude oil prices dipped to $59 per barrel yesterday, refining costs remain elevated due to the expense of importing crude in dollars. Experts anticipated cheaper petrol amid falling crude prices, but the steep refining expenses have negated those potential savings.
READ ALSO: FG Confirms Naira-For-Crude Policy Remains Active in Meeting with Dangote Officials
