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Global crude prices opened the week firmly on Monday, extending last week’s upward momentum as traders responded to a tighter supply outlook and renewed geopolitical strain affecting key oil shipping corridors.

The Nigerian downstream petroleum market recorded mixed but largely stable price movements between 20th and 24th April 2026, as depot prices for Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) adjusted across key locations. This report strictly covers depots that recorded both Monday opening and Friday closing prices, excluding single-day price entries and Dangote Refinery data as requested.

There are fresh indications that petrol marketers may begin to reopen sales channels after a sudden shift in global oil prices disrupted earlier expectations of an increase in domestic pump prices. Brent crude, which had surged close to $120 per barrel, has now shown signs of softening, forcing a rethink across Nigeria’s downstream market.

Fresh pressure is mounting on Nigeria’s downstream market as MRS Oil Nigeria Plc has announced a new upward review of its petrol pricing, signalling another likely jump in pump prices across its retail outlets.

Fresh pressure is building in Nigeria’s fuel market as Dangote Refinery moves to adjust petrol prices upward, a development that could quickly translate to higher pump prices nationwide amid rising global crude costs.

Nigeria’s aviation sector is once again feeling the heat of global oil market tensions as the price of Jet A1 aviation fuel climbs sharply, raising concerns about the sustainability of domestic airline operations and the cost of air travel.

Nigeria’s downstream petroleum market is witnessing a fresh shift as the Dangote Petroleum Refinery has reportedly streamlined its petrol loading operations to just 20 approved major marketers, effectively sidelining many independent marketers who had previously been lifting products from the facility.

A sharp downturn in global oil prices is beginning to ripple through Nigeria’s downstream petroleum market, raising expectations of further reductions in fuel prices in the coming days.

Nigeria’s fuel market tightened further on Friday, checks by Petroleumprice.ng reveals that Dangote Refinery has again raised its ex-depot price of Premium Motor Spirit (PMS) pushing the rate to ₦995 per litre. The latest adjustment represents a ₦121 increase, coming barely days after the refinery had earlier reviewed its price upward, signalling growing pressure across the country’s downstream petroleum sector.

Nigeria’s diesel market is heating up again and this time, the signal is coming from the biggest player in the room.

Dangote Refinery has increased the ex-depot price of Premium Motor Spirit (PMS) from ₦774 to ₦874 per litre, representing a ₦100 hike, Petroleumprice.ng reports.

Global oil markets surged sharply as fresh data showed a strong rally across major benchmarks. Brent crude rose to $77.60, gaining +6.49%, while WTI crude climbed to $71.21, up +6.25% in the last trading window.

Brent crude has surged by 2.71 percent to $72.67 as analysts raise their 2026 forecasts amid a heightened war risk premium stemming from the US–Iran standoff.

Brent crude steady at $72 as U.S.–Iran nuclear talks ease supply fears while geopolitical tensions keep oil prices supported.