S&P: Dangote Refinery Keeps Pump Prices Steady Amid Global Fuel Surge
According to the latest market report by S&P Global Commodity Insights, Dangote Petroleum Refinery has insulated Nigerian consumers from rising global fuel costs. While international gasoline prices and shipping rates climb, domestic pump prices in Nigeria have remained stable. Report findings show that as importers face higher product values and freight charges, Dangote’s coastal sales pricing effectively caps local wholesale rates. Traders note that this pricing strategy has made importing fuel into Nigeria commercially unattractive compared with regional markets. Despite crude being bought at higher international prices, the refinery has reduced its ex-depot price of petrol by over ₦200 per litre, diesel by ₦300 per litre, and aviation fuel by ₦520 per litre since May. Its pricing follows average procurement costs rather than daily Brent fluctuations. Industry analysts say this S&P assessment highlights the strategic value of domestic refining in shielding Nigeria from external market shocks and volatile global energy trends.
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