The Dangote Petroleum Refinery has increased its ex-gantry
petrol price to N874 per litre.
According to sources at the plant, the refinery raised the
price of the product by N100, from N774 per litre to N874.
“The refinery increased its ex-gantry petrol price to N874
per litre,” a source said.
The development comes as global oil prices continue to surge
— with brent crude rising to as high as $79 per barrel — amid escalating
geopolitical tensions in the Middle East, which impacts the oil and gas sector.
Earlier today, QatarEnergy, the state-owned energy company
of Qatar, said it had halted the production of liquefied natural gas (LNG) due
to Iranian military attacks on its operating facilities.
Saudi Aramco, the state-owned oil company of Saudi Arabia,
also shut down its Ras Tanura oil refinery, following a fire sparked by debris
from an Iranian drone attack at the facility.
On Sunday, major container shipping lines suspended sailings
through the Strait of Hormuz and the Suez Canal over escalating security risks
in the Middle East.
US-Israeli strikes on Iranian targets had killed Ayatollah
Ali Khamenei and Abdolrahim Mousavi, Iran’s supreme leader, and armed forces
chief of staff, respectively.
In response, Iran has since launched waves of missiles
across the region, threatening to pull its neighbours into the escalating
conflict.
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