Dollar-Priced Dangote Supply and Iran Tensions Push Petrol to ₦1,230

Fuel prices have surged to ₦1,230 per litre as Dangote refinery begins dollar-based sales and global crude prices rise amid US–Iran tensions. Petroleum marketers’ association warns that monopoly pricing undermines stability. Independent marketers reported loading delays, but the refinery insists supplies continue uninterrupted. Latest data shows depot rates ranging from ₦1,185 to ₦1,245 per litre nationwide. A survey of filling stations in major cities reveals pump prices between ₦1,100 and ₦1,230. Motorists and transport operators say high costs are cutting profits and forcing fare hikes. Many fear dollar-denominated pricing will expose local prices further to forex volatility.

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