Dangote Refinery raises petrol price to N1,175 per litre, sparking fears of higher costs for Nigerian motorists.
Hard Economic times are here as Dangote Petroleum Refinery has increased petrol prices again. The new gantry price stands at N1,175 per litre.
This adjustment represents the third hike in a single week. The price moved up from N995 just last Friday. Refinery officials blame this on volatile market conditions and rising production costs.
Motorists will now likely buy fuel above N1,200 at filling stations. The price of diesel has also risen to N1,620 per litre.
Meanwhile, petroleum marketers have warned that the worst may not be over. They predict petrol could hit N2,000 per litre if global conflicts continue. The group urged the government to fix local refineries to stop the price surge.
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