By Peace Udugba -The Daily Torch Media
The Dangote Refinery has again increased the price of petroleum products, raising the cost of petrol to N1,175 per litre and diesel to N1,620 per litre.
The latest adjustment marks another price hike from the refinery, which has become a major supplier of refined petroleum products in Nigeria. The new prices are expected to affect fuel costs across the country, as marketers and distributors often adjust pump prices in response to changes from major suppliers.
Industry observers say the increase could further impact transportation costs, goods, and services, as diesel is widely used to power trucks, generators, and industrial equipment. Petrol, on the other hand, remains the primary fuel for vehicles used by millions of Nigerians daily.
The refinery, owned by Africa’s richest man, Aliko Dangote, began supplying refined products to the Nigerian market as part of efforts to reduce the country’s dependence on imported fuel.
However, fluctuations in global crude oil prices, foreign exchange rates, and distribution costs have continued to influence the pricing of refined petroleum products.
The development comes as consumers and businesses continue to grapple with rising energy costs and broader economic pressures.
