After Dangote Refinery increased the price of its gantry fuel to N1,175 per liter for gasoline and N1,620 per liter for diesel on Monday, the price of premium motor spirit increased to N1,400 per liter and Automotive Gas Oil (diesel) to N1,750, putting Nigerians in grave danger.
According to reports, President Bola Ahmed Tinubu has remained silent and taken no action to slow the increase in fuel prices.
The presidency remains silent.
Sunday Dare, the presidential spokesperson, was approached by the reporter regarding the rising cost of petrol, but as of the time the story was filed, he had not responded.
Ranoil, Empire, and other gas stations in Abuja and the surrounding area quickly increased their prices for gasoline and diesel to N1,350 and N1,400 per liter, respectively, according to checks made on Monday night.
Diesel costs N1,750 per litre.
Filling stations in Abuja may have to raise the price of diesel from about N1,365 per liter to as much as N1,750 per liter.
In the meantime, 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 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 tomorrow, Tuesday. On Monday, we didn’t have gasoline,” he said.
Prior to the escalation of the Iran-United States-Israel conflict 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 coincides with Dangote Refinery raising its gantry pricing 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 the volatility of the world’s crude prices.
According to reports, West Texas Intermediate fell to $88.11 per barrel after it appeared 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.
As the price of WTI crude declines, Trump suggests that the war may end.
In an interview with CBN News, Trump stated that the US was “very far ahead of schedule” and that “I think the war is very complete, pretty much.”
His remarks caused WTI crude to fall below 90 per barrel on Monday, marking the first drop since the Gulf War intensified, causing tension in the Strait of Hormuz canal and closing refineries in Saudi Arabia and Qatar.
Nigerians’ reaction to the increase in transportation fares
As a result of Dangote Refinery’s price 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 acknowledged an increase in transportation fares.
According to Adamu Abubakar, a taxi driver on the Deidei to Area 1 route, his fare has increased from N1,200 to N1,500 per trip.
“Our passengers would bear the brunt of the increase in fuel prices,” he stated.
Passenger Constance Onuoha in Abuja verified the increase in transit fares.
“To keep the fare increase caused by the increase in fuel prices from getting out of control, the government must step in,” she stated.
According to reports, the increases could 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 might cost up to 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 situation and warned that if nothing was done, the price of gasoline and diesel might rise to N2,000 and N3,000 per liter.
“We have a Naira-for-crude deal in place,” he declared. The price of crude oil on the global market is unaffected by the strategy, though.
Because the currency’s volatility depends on imports, the policy only saves the dollar. Due to market conditions, Dangote has tripled the price of the petrol gantry.
He stated, “For this reason, we have urged the regulators to work towards a price stability program without regulating price.”
Speaking to Nigerians, petroleum marketers solely highlight the advantages of the 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 depot owners and Dangote Refinery.
“Well, we work as freelance marketers. We purchase everything we sell 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.
He explained, “You will be getting it at N1,800 per liter instead of N1,200 because the commodity would have been scarce.”
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