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Punch Newspapers

Dangote refinery returns to naira petrol sales and raises ex-depot price by N140 to N1,215 per litre

AI Market Summary
Dangote Refinery's return to naira-denominated petrol sales eases near-term FX demand and distribution friction in Nigeria, but the N140/litre ex-depot hike underscores persistent cost pass-through from tighter crude sourcing and a weaker currency backdrop. With global oil near $94/bbl amid rising Middle East tensions, the episode highlights ongoing upward pressure on regional fuel costs and links domestic pricing stress to broader crude market tightness.
Impact level
● Medium
Affected assets
NCCO1OILWTI2USD/USDT+3.68%
AI Insight · NCCO1OILWTI2USD/USDTAI Insight
▲ Bullish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Dangote Petroleum Refinery resumed selling petrol in naira on 22 July 2026 and lifted its ex-depot price by N140 per litre to N1,215 per litre. The move ends a one-week switch to dollar pricing that tightened supply and pushed private depot prices to about N1,275 per litre. Retail pump prices have climbed to around N1,300 per litre as oil prices hovered near $94 per barrel amid renewed tension in the Middle East.
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