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The price of premium motor spirit increased to N1,400 per liter and the price of automotive gas oil (diesel) to N1,750 after Dangote Refinery raised the price of its flagship fuel to N1,175 per liter for gasoline and N1,620 per liter on Monday, putting Nigerians in grave danger.
According to reports, President Bola Ahmed Tinubu has remained silent and taken no action to slow the rise in fuel prices.
The president is silent.
Sunday Dare, the presidential spokesperson, was approached by the reporter regarding the rising fuel prices, but as of the time the story was filed, he had not responded.
Ranoil, Empire, and other filling stations in Abuja and the surrounding areas instantly increased their prices for gasoline and diesel to N1,350 and N1,400 per liter, respectively, according to checks conducted on Monday night.
The price of diesel is N1,750 per litre.
Filling stations in Abuja may have to raise the price of diesel from about N1,365 per liter to N1,750 per liter.
Fuel costs N1,200 per litre at the MRS filling station.
The petrol price at an MRS filling station in Abuja would increase to N1200 per liter starting on Tuesday, March 10, 2026, from N1,092 per liter, according to a manager who wished to remain anonymous.
“We will begin selling fuel at N1200 per liter on Tuesday. On Monday, we ran out of gasoline,” he said.
Prior to the escalation of the Iran-United States-Israel war on February 28, 2026, it was reported that the price of gasoline had increased by N525 per liter at Nigerian National Petroleum Company Limited retail locations and other filling stations.
This occurs as Dangote Refinery raised the price of its gantry to N1,175 a liter as of Monday night, an increase of N376 per liter over the previous 10 days.
The refinery blamed the increase in gantry prices on Monday on fluctuations in the world’s crude prices.
According to reports, West Texas Intermediate fell to $88.11 per barrel following an indication that US President Donald Trump had hinted at a proposal to halt hostilities with Iran, while Brent crude increased by 6.76 on a daily basis to $98.86 per barrel.
Trump suggests that the war may cease as the price of WTI petroleum declines.
Trump stated that the US was “very far ahead of schedule” and that “I think the war is very complete, pretty much” in an interview with CBN News.
His remarks caused WTI crude to fall below 90 per barrel on Monday, the first drop since the Gulf War intensified, causing tension in the Strait of Hormuz canal and closing facilities in Saudi Arabia and Qatar.
Impact of rising transportation costs on Nigerians
As a result of the Dangote Refinery’s pricing 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, several transporters in Abuja verified an increase in transportation fares.
According to Adamu Abubakar, a taxi driver operating the Deidei to Area 1 route, his fare has increased from N1,200 to N1,500 every trip.
“Our passengers would bear the brunt of the increase in fuel prices,” he said.
Passenger Constance Onuoha in Abuja attested to the increase in transit fares.
“To keep the fare increase brought on by the increase in fuel prices from getting out of control, the government must step in,” she stated.
According to reports, the increases might have an effect on manufacturers as well because the increase in diesel prices could lead to an increase in product prices in the near future.
Diesel fuel prices could reach 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 was done, the price of gasoline and diesel could rise between N2,000 and N3,000 per liter.
“We have a Naira-for-crude deal in place,” he stated. The strategy, however, has no effect on the price of crude oil on the global market.
Because the currency’s volatility depends on imports, the policy is only saving the dollar. Due to the realities of the market, Dangote has tripled the price of the petrol gantry.
He explained, “For this reason, we have pushed the regulators to work toward a price stability program without regulating price.”
Speaking to Nigerians, petroleum marketers solely highlight the advantages of Dangote Refinery.
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 Dangote Refinery and depot owners.
We are freelance marketers, after all. We purchase everything from the owners of the depot and Dangote Refinery.
“The only advantage of Dangote Refinery is that there won’t be a shortage of fuel.
“Because the commodity would have been scarce, you will be getting it at N1,800 per liter instead of N1,200,” he said.
