**Dangote Petroleum Refinery Announces Fuel Price Increase Amid Global Tensions** The Dangote Petroleum Refinery has notified petroleum marketers of a significant price increase in Premium Motor Spirit (petrol), citing escalating global geopolitical tensions. According to a notice sent to marketers on **Friday, March 17**, the refinery disclosed that its ex-depot price for petrol would increase to **N1,245 per litre**, effective **Monday, March 20**. The refinery's decision to hike fuel prices comes amid a backdrop of rising global energy costs and geopolitical uncertainties. The notice obtained by our correspondent stated that the increase was necessary due to **"escalating global geopolitical tensions"** and other operational factors. The new price of **N1,245 per litre** represents a significant increase from the previous price. Petroleum marketers and Nigerians are bracing for the impact of the price hike, which is expected to affect the cost of transportation, food, and other essential goods. The Nigerian National Petroleum Corporation (NNPC) had previously announced a price increase in February, citing similar factors. The Dangote Petroleum Refinery is a major player in the Nigerian oil industry, with a capacity to produce 650,000 barrels of crude oil per day. The refinery's notice also highlighted the increasing costs of crude oil, which have been affected by global events such as the **Russia-Ukraine conflict**. The conflict has disrupted global energy supplies and contributed to rising prices. The Dangote Petroleum Refinery's decision to hike fuel prices is likely to have a significant impact on the Nigerian economy, particularly for low-income households and small businesses. In a statement, the refinery's management emphasized the need for the price increase, citing **"the increasing costs of crude oil, operational costs, and other expenses"**. The refinery's notice also stated that the new price would be effective from **Monday, March 20**, and would apply to all petroleum marketers across the country. The impact of the price hike is expected to be felt across various sectors of the Nigerian economy.