In an update published by **Channels TV**, the Dangote Refinery has announced a revision of its ex-depot prices, with petrol now nearing ₦1,300 per liter. The management cited the global rise in Brent crude prices, which recently hit $125 per barrel, as the primary driver for the domestic price adjustment.
The refinery, which had initially promised price stability, is now navigating the complexities of a deregulated market where landing costs are tied to international benchmarks. This move has sparked concerns among transporters and logistics companies who anticipate a ripple effect on the cost of goods and services nationwide.
**The Nation** observed that “the price hike is a bitter pill for a population already struggling with high energy costs,” and **Leadership** reported that “independent marketers are already adjusting their pump prices in response to the refinery’s new rates.”
**Echotitbits take:** This confirms that local refining doesn’t automatically mean “cheap” fuel if the input (crude) is priced in dollars at international rates. The focus must now shift to the efficiency of the NNPCL’s crude-for-refined-product swap deals to stabilize the pump price.
Source: Channels TV – https://www.channelstv.com/2026/04/30/dangote-refinery-raises-petrol-to-n1275-diesel-to-%E2%82%A61800-ltr-as-brent-hits-125pb/, May 1, 2026
Photo credit: Channels TV
