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The state oil firm and private retailers in Abuja have raised petrol prices again, pushing the cost of a litre toward 1,500 Naira. This latest adjustment follows a year of relentless volatility that has left the capital city with empty roads and crowded bus stops. National oil company outlets now sell fuel at 1,364 Naira,…
Nigerian petrol prices are climbing toward N1,400 per litre as a naval standoff in the Middle East chokes global supply. The failed ceasefire between the United States and Iran has kept the Strait of Hormuz closed, driving Brent crude from $105 to $118 per barrel in 48 hours. This volatility forced the Dangote Petroleum Refinery…
Global oil price hikes could drive Nigeria’s headline inflation up by 3.1 percentage points as the Middle East conflict continues to batter energy markets. In its latest Nigeria Development Update, the World Bank warned that the conflict has pushed crude prices to $80 per barrel, a 31% increase since hostilities began. This surge is already…
The Dangote Petroleum Refinery has raised the ex-depot price of petrol to ₦1,175 per litre. This marks the third price increase in a single week. The refinery communicated the new gantry rate to marketers on Monday morning. This latest jump represents an 18 per cent surge in just three days. It follows a Friday adjustment…
