Petrol price hits N1,300 in Abuja as Dangote ex-depot rate rises, NNPC adjusts pump prices

Dangote Refinery has raised its ex-depot petrol price by N65 to N1,265 per litre, triggering fresh pump price increases in Abuja. NNPC retail outlets moved their pump price from N1,250 to N1,270 per litre, with some marketers now selling above N1,300.

Checks on Sunday, August 30 showed that several filling stations adjusted their prices following the latest increase in Dangote Refinery's petrol ex-depot price. The refinery raised its petrol gantry price from N1,200 to N1,265 per litre, a N65 increase and the latest in a series of adjustments within the past week.

Abuja stations adjust pump prices

The increase has been reflected across the nation's capital. NNPC retail outlets raised their pump price from N1,250 to N1,270 per litre. AY Shafa also moved from N1,250 to N1,270 per litre, while Optima increased its price from N1,260 to N1,300 per litre.

Motorists are now paying above N1,300 at some filling stations in Abuja. The adjustments follow a pattern of successive price changes by Dangote Refinery, which has left marketers and consumers watching the pump closely.

Crude oil prices fall, petrol rises

The petrol price increase comes despite a decline in international crude oil prices. Benchmark crude prices fell from about $92 to $87.31 per barrel. Brent crude stood at $88.10 per barrel, a 0.47% decline, while West Texas Intermediate (WTI) fell 0.16% to $83.40 per barrel.

This unusual trend has raised concerns among consumers, especially because higher petrol prices typically increase transportation and operating costs for households and businesses.

Marketers explain the price moves

National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said marketers were compelled to review their prices following the successive adjustments by Dangote Refinery. He explained that marketers could not continue selling petrol below replacement cost, especially when the cost of replenishing their stocks keeps changing.

Ukadike added that the frequent price adjustments were creating uncertainty for both marketers and consumers, as petroleum product prices could change within a short period.

In a related development, Dangote Petroleum Refinery has exported 12 cargoes of refined petroleum products totalling 456,000 tonnes to five African countries: Côte d'Ivoire, Cameroon, Tanzania, Ghana, and Togo. The products were sold to international traders on a Free on Board basis after the refinery reached its 650,000 barrels-per-day capacity in February 2026.

For Nigerian consumers and businesses, the latest pump price increases mean higher transport fares and operating expenses. With crude oil prices falling but petrol prices rising, the pressure on household budgets and business margins is likely to persist as long as the refinery keeps adjusting its ex-depot rate.