The ex-gantry price of gasoline has been raised to N995 per litre by the Dangote refinery.

The pricing was evaluated on Friday, according to high-level refinery sources.

“The price of ex-gantry gasoline is now N995 per litre,” a source stated.

This occurs five days after the refinery raised the price of gasoline to N874 a litre.

The refinery recently raised its pricing by N121 to N995 per litre in response to rising oil costs worldwide.

Crude oil prices shot up to $91 a barrel on Friday as the conflict between the US, Israel, and Iran stretched throughout the Middle East and showed no signs of abating.

Amid supply interruptions, Brent crude increased from $72 on February 28 to $85 per barrel on March 3.

A commercial
The energy minister of Qatar, Saad Al-kaabi, issued a warning on Friday that if ships are still unable to cross the Strait of Hormuz, oil prices might increase to $150 per barrel in “two to three weeks.”

Due to growing security concerns in the Gulf, major container shipping companies have halted operations through the Suez Canal and the Strait of Hormuz.

The Nigerian National Petroleum Company (NNPC) Limited raised the price of gasoline at its retail locations to N933 per liter in Lagos and N960 per liter in Abuja on March 5.

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