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| Dangote Refinery Hikes Petrol Price |
Dangote Petroleum Refinery has increased its gantry price for Premium Motor Spirit (PMS), commonly known as petrol, by N15 to N1,200 per litre, effective August 26, 2026.
The adjustment, communicated to customers on Tuesday by the refinery’s Group Commercial Operations, marks the second price increase in less than a week. On August 21, the refinery had raised the gantry price from N1,165 to N1,185 per litre.
In the latest notice titled “PMS Price Change Communication (N1,185 per Litre To N1,200 per Litre)”, the refinery also increased its coastal delivery price from N1,562,265 to N1,582,380 per metric tonne. Customers were directed to return all existing Authorisation to Collect (ATC) documents for repricing, after which new volume contracts would be issued to resume loading.
The refinery has not publicly explained the reasons for the latest N15 increase. The move comes against a backdrop of declining international crude oil prices. Data from Oilprice showed Brent crude trading around $86.83–$88.37 per barrel (down roughly 2–4 percent) and West Texas Intermediate (WTI) also lower, although Murban crude was higher at about $93.44 per barrel.
Industry observers note that the divergence between falling crude benchmarks and rising domestic depot prices is likely to increase pressure on marketers and consumers. Downstream operators typically pass on higher gantry costs through transportation, storage and retail margins. Sources expect the adjustment to push average pump prices toward N1,250 per litre, depending on location and distribution expenses.
The increase also occurs amid ongoing uncertainty in global oil markets linked to the US-Iran conflict. While recent declines in crude prices reflect expectations that sanctions and diplomatic moves may limit immediate supply threats, shipping risks around the Strait of Hormuz remain elevated. Traffic through the strategic waterway, which normally handles about one-fifth of global oil consumption, has been significantly reduced.
Dangote Refinery, Nigeria’s largest private refining facility, has become a major determinant of domestic petrol pricing since it began significant local supply. Frequent adjustments at the gantry level continue to shape the downstream market, influencing both depot and retail prices across the country.
The latest hike is expected to feed through to filling stations in the coming days, adding to the cost of living pressures faced by motorists and businesses.