Many Nigerians had hoped that local refining would bring some stability to fuel prices, but recent developments have shown a different reality. On Sunday, March 22, 2026, the Dangote Petroleum Refinery announced yet another price increase, marking its fifth adjustment within the space of one month.

With this latest change, petrol is now selling for as high as ₦1,332 per litre in Lagos.

This increase follows a ₦30 rise in the refinery’s depot price, which moved from ₦1,245 to ₦1,275 per litre at midnight.

A Month Filled with Price Changes

March has been a turbulent period for Nigeria’s fuel market. At the beginning of the month, depot prices were around ₦874 per litre. Since then, repeated adjustments have pushed prices up by more than 45 percent in just a few weeks.

A major reason for this surge is the rising cost of crude oil on the global market. Prices for Brent crude have remained above 114 dollars per barrel due to ongoing tensions in the Middle East.

Despite being a local refinery, the Dangote facility still relies partly on internationally priced crude and aligns its pricing with global market realities. This means it is not completely shielded from external pressures.

Impact Across the Country

The effect of the price increase has spread quickly across Nigeria. Fuel marketers have already adjusted their pump prices to reflect the new rates.

In Lagos, the average price now stands at ₦1,332 per litre. In cities like Abuja and other northern areas, prices are even higher, reaching up to ₦1,450 per litre due to transportation and distribution costs.

Commuters are already feeling the impact. Transport fares in many cities have risen by about 15 to 20 percent, as drivers try to cope with the higher cost of fuel.

Major fuel retailers such as MRS Oil Nigeria and TotalEnergies have started updating their prices. The Nigerian National Petroleum Company Limited is also expected to review its rates soon.

Government Response

The timing of this increase, which comes during the Eid-el-Fitr celebrations, has added to public concern.

In response, Bola Ahmed Tinubu acknowledged the growing pressure on citizens. Through a statement delivered by the Governor of Jigawa State, the President noted that steps are being taken to ease the burden.

These measures may include support for mass transit systems and renewed efforts to promote compressed natural gas as a more affordable alternative to petrol.

What Lies Ahead

Experts warn that if global tensions continue and crude oil prices remain high, petrol prices in Nigeria could move closer to ₦1,500 per litre before the middle of the year.

For now, many Nigerians are being advised to plan their travel carefully and prepare for rising costs, as higher fuel prices are likely to affect food, transportation, and other everyday expenses.