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The ex-gantry price of gasoline at the Dangote refinery has gone up to N995 per litre.
Leading refinery sources claim that the price was examined on Friday.
According to a source, “the price of ex-gantry petrol is now N995 per litre.”
The refinery raised the price of gasoline to N874 per liter five days prior to this development.
In response to rising oil costs worldwide, the refinery has raised its pricing by N121 to N995 per litre.
As the conflict between the US, Israel, and Iran extended throughout the Middle East without showing any indications of abating, the price of crude oil shot up to $91 per barrel on Friday.
Due to supply difficulties, Brent crude increased to $85 a barrel on March 3 from $72 on February 28.
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Qatar’s energy minister, Saad Al-kaabi, issued a warning on Friday that if tankers are still unable to cross the Strait of Hormuz, the price of oil might increase to $150 per barrel in “two to three weeks.”
Due to growing security concerns in the Gulf, major container shipping companies have halted operations through the Suez Canal and the Strait of Hormuz.
The Nigerian National Petroleum Company (NNPC) Limited raised the price of gasoline at its retail locations to N960 per litre in Abuja and N933 per litre in Lagos on March 5.
