12 articles tagged with “fuel prices”
South African and Nigerian authorities warn of imminent fuel price hikes as international crude prices climb, forcing consumers across the region to negotiate transport costs amid supply constraints.
Nigeria's daily petrol consumption dropped to 56.9 million litres in February from 60.2 million in January, as Dangote Refinery reduced gantry prices to N1,075/litre following crude's decline to $88/barrel.
President Tinubu orders immediate rollout of compressed natural gas conversion kits as petrol prices surge above N1,300 in major cities, while Dangote Refinery cuts gantry price by N100 amid falling crude rates.
Global oil prices dropped 8% to $83 per barrel following a spike driven by Middle East tensions, prompting Egypt to raise fuel prices by 14% while Nigeria suspends helicopter landing fees for oil operations.
NNPC reports 5.81% production increase to 1.64mb/d in January despite revenue decline, while Dangote Refinery cites fees from 47 government agencies as major cost driver amid volatile global oil markets.
Escalating conflict in the Gulf has triggered sharp oil price increases, with South Africa bracing for record fuel price hikes and supply disruptions as regional tensions threaten critical shipping routes.
Nigerian pump prices hit ₦1,300 per litre as Middle East conflict drives crude oil volatility, with Brent swinging from $120 to below $90 in 24 hours following US sanctions relief announcement.
Fuel prices across Nigeria have jumped sharply, with petrol reaching N1,300 per litre in some markets as Dangote Refinery raises ex-depot prices to N1,175 amid escalating global crude costs driven by Middle East geopolitical tensions.
Nigeria's Dangote Refinery has increased Premium Motor Spirit ex-depot prices to N1,175 per litre, marking the fourth adjustment and intensifying inflation concerns as transport and goods costs are expected to rise across Africa's largest economy.
WTI crude jumped 19.54% to $108.66 per barrel Monday as Middle East tensions escalated, while Nigerian petrol prices climbed to ₦1,150/litre amid supply concerns at Dangote refinery.
Nigeria's state oil company raised petrol prices to N960/litre while Dangote Refinery lifted diesel to N1,050/litre, as Middle East geopolitical tensions push global crude benchmarks higher and disrupt energy markets.
US-Israeli strikes on Iran have pushed Brent crude above $72 per barrel, raising concerns that Nigeria's fuel prices could climb further as Middle East tensions disrupt global oil markets.