THE Dangote Petroleum Refinery has revised its petrol price to ₦1,175 per liter once more, resulting in depot operators across different areas pausing their sales temporarily.
The refinery had previously lowered the ex-depot price of Premium Motor Spirit (PMS) by ₦100, bringing it to ₦1,075 per liter on March 10, 2026, reduced from the earlier price of ₦1,175 per liter. Depot operators, who had started selling at an average price of ₦1,100 per liter, immediately paused their sales transactions due to the refinery’s increase in price.
Similarly, crude oil prices surge above $100 per barrel, again
Crude oil prices have again surpassed $100 per barrel as the ripple effects of the Iran-United States-Israel war bite harder on the Gulf region and the world in general.
VAM reports Brent topped $101.3 per barrel while West Texas Intermediate surged to $96.30 per barrel as of Friday morning after dipping to below $90 per barrel on Monday and Tuesday.
This means that Brent and WTI crude blend prices surged by 0.64 percent and 0.09 percent on a day-to-day basis as of the time of filing this report.
Twelve days of war had led to the blockage of the Strait of Hormuz and the shutdown of major refinery facilities in the region.
The US-Israeli alliance and Iran have refused to back down as the crisis in the Middle East affects economies worldwide, including Nigeria.
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Media reports that premium motor spirit, a product of crude, had gone up at least three times since the war commenced on February 28th.