**Dangote Refinery Raises Petrol Price to N1,175/litre Amid Global Oil Price Surge** In a sudden turn of events, the Dangote Petrochemical Refinery has hiked the price of Premium Motor Spirit (PMS), also known as petrol, to N1,175 per litre. This move comes just days after the refinery announced a reduction of N100 in the ex-depot price to N1,075 per litre on March 10, 2026. However, the global crude oil price surge has had a ripple effect, pushing up refining costs and forcing the Dangote refinery to reverse its earlier decision. The development has sent shockwaves across the petroleum market, with depot operators across multiple hubs temporarily suspending sales as they await clarity on the new pricing structure. According to industry sources, the sudden upward adjustment in price has disrupted trading activities, leaving many stakeholders in limbo. The price revision was confirmed by a senior official at the refinery, who spoke to our correspondent on condition of anonymity. The official acknowledged that the price had been increased, stating simply, "Yes, it is true." This move is a setback for consumers who had anticipated a reduction in petrol prices, but the ongoing global oil price surge has made it challenging for refineries to maintain a stable pricing structure. The impact of this price hike will be felt across the country, particularly in a nation where petrol prices have been a contentious issue. The Dangote refinery's decision highlights the delicate balance between global market pressures and local pricing dynamics. As the situation unfolds, petrol prices are expected to remain volatile, with further price adjustments possible in the coming days. Consumers and market operators alike will be watching closely to see how the situation evolves.