The Dangote Petroleum Refinery and Petrochemicals FZE has increased the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from N1,185 to N1,200 per litre, effective August 26, 2026.
The latest adjustment was communicated to customers in an official notice issued on Tuesday by the refinery’s Group Commercial Operations. The communication contained revised depot prices for both gantry and coastal deliveries.
The notice, titled “PMS Price Change Communication (N1,185 Per Litre to N1,200 Per Litre),” instructed customers to take note of the new PMS gantry and coastal prices, which took effect on August 26.
According to the pricing table contained in the notice, the coastal price increased from N1,562,265 to N1,582,380 per metric tonne, while the gantry price rose from N1,185 to N1,200 per litre.
The refinery also directed customers to return all existing Authorisation to Collect (ATC) documents for repricing. It said new volume contracts would subsequently be issued to enable immediate resumption of loading.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption,” the refinery stated.
The latest adjustment represents a N15 per litre increase and comes just days after the refinery raised its gantry price from N1,165 to N1,185 per litre. That previous increase took effect from midnight on August 21, 2026, according to industry trackers.
Crude Oil Prices Fall Despite Petrol Price Increase
The latest petrol price adjustment comes amid a decline in international crude oil prices.
Data from Oilprice.com on Tuesday showed West Texas Intermediate (WTI) crude trading at $82.13 per barrel, down $2.88, or 3.39 per cent. Brent crude fell to $88.37 per barrel, representing a decline of $3.80, or 4.12 per cent.
Murban crude also dropped to $92.71 per barrel, losing $8.73, or 8.61 per cent.
Despite the decline in crude prices, industry sources indicated that marketers and depot operators who received the refinery’s circular may have started returning existing ATCs for repricing in line with the directive.
Pump Prices Could Rise Further
The N15 per litre increase at the refinery’s gantry could put additional pressure on retail petrol prices as marketers factor in transportation, logistics and other downstream costs.
Industry expectations suggest that petrol pump prices could rise toward an average of N1,250 per litre, although actual prices are likely to vary by location and operating costs.
The Dangote Group had not responded to inquiries from our correspondent as of the time of filing this report.
Oil Market Volatility Persists
The latest price adjustment comes amid renewed volatility in the international oil market linked to the ongoing US-Iran conflict.
Reuters reported that oil prices recently declined as investors assessed the latest US sanctions against Iran as posing less immediate risk to global oil supplies than a potential military escalation.
However, analysts warned that the decline could prove temporary if tensions escalate or Iran responds militarily.
Supply disruption concerns have also increased around the Strait of Hormuz, a critical global oil shipping route. Reuters reported that only two commodity vessels transited the waterway on Monday, the lowest daily tally since early May.
The Strait of Hormuz previously accounted for roughly one-fifth of global oil consumption, making any prolonged disruption a significant threat to international energy markets.
With geopolitical tensions remaining elevated, developments in the global crude market could continue to influence petrol pricing in Nigeria in the coming weeks.
