The Dangote Petroleum Refinery and Petrochemicals FZE has increased the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, from N1,185 to N1,200 per litre.
The new price took effect on Wednesday, August 26, 2026, according to a notice issued by the refinery’s Group Commercial Operations to its customers.
The communication, titled “PMS Price Change Communication (N1,185 per Litre to N1,200 per Litre),” informed customers of revised depot prices for gantry and coastal deliveries.
Under the new pricing structure, the coastal price increased from N1,562,265 to N1,582,380 per metric tonne, while the gantry price rose by N15 per litre to N1,200.
The refinery also directed customers to return all existing Authorisation to Collect (ATC) documents for repricing before new volume contracts are 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 notice stated.
The latest increase comes just five days after the refinery raised its gantry price from N1,165 to N1,185 per litre, effective from midnight on August 21.
The two consecutive price adjustments bring the total increase in the refinery’s gantry price to N35 per litre within five days.
The latest development could trigger a further rise in petrol pump prices as marketers factor in transportation, depot and other downstream costs. Industry expectations are that petrol prices could average around N1,250 per litre.
The increase comes amid volatility in the international oil market. Data from Oilprice.com showed that West Texas Intermediate crude was trading at $82.13 per barrel, while Brent crude stood at $88.37 per barrel, with both benchmarks recording declines.
Murban crude also fell to $92.71 per barrel.
The latest adjustment also comes amid renewed uncertainty in global oil markets linked to tensions between the United States and Iran, with concerns over potential disruptions to crude supplies and shipping through the Strait of Hormuz.
Despite the decline in crude prices, market analysts have warned that any escalation that disrupts supplies through the strategic waterway could trigger a sharp rebound in international oil prices.
The Dangote Group had not responded to enquiries on the latest price adjustment as of the time of filing this report.
