The Dangote refinery has increased its ex-gantry price of petrol to N995 per litre.
According to top sources at the refinery, the price was reviewed on Friday.
“The ex-gantry petrol price is now N995 per litre,” a source said.
The development comes five days after the refinery increased its petrol price to N874 per litre.
In the latest hike, the refinery increased its price by N121 to N995 per litre amid rising global oil prices.
On Friday, crude oil price surged to $91 a barrel as the war involving the United States (US), Israel, and Iran continued to spread across the Middle East with no signs of easing.
On March 3, Brent crude rose to $85 per barrel — from $72 on February 28 — amid supply disruptions.
Saad Al-kaabi, Qatar’s energy minister, on Friday, warned oil price could rise to $150 per barrel in “two to three weeks” if tankers remain unable to pass through the Strait of Hormuz.
Major container shipping lines had suspended sailings through the Strait of Hormuz and the Suez Canal over escalating security risks in the Gulf region.
On March 5, the Nigerian National Petroleum Company (NNPC) Limited increased petrol price at its retail outlets to N933 per litre in Lagos and N960 per litre in Abuja.
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