The Dangote Refinery has increased the ex-depot price of Premium Motor Spirit (petrol) to ₦1,275 per litre and diesel to about ₦1,800 per litre, following a sharp rise in global crude oil prices.

The adjustment comes as Brent crude climbed to approximately $125 per barrel, driving up production and supply costs across the global energy market.

Industry observers say the price hike reflects ongoing volatility in international oil markets, influenced by geopolitical tensions and supply disruptions, which continue to impact domestic fuel pricing.

The increase is expected to trigger higher pump prices nationwide, with marketers likely to adjust rates in line with the new ex-depot figures.

Despite its capacity to boost local refining, the Dangote Refinery remains influenced by global crude price movements, meaning domestic fuel prices are still tied to international market dynamics.