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 refinery announced the adjustment in an official communication to customers issued on Tuesday by its Group Commercial Operations. The notice contained revised depot prices for gantry and coastal deliveries.
The email, titled “PMS Price Change Communication (N1,185 Per Litre To N1,200 Per Litre),” instructed customers to take note of the new Dangote Petroleum Refinery and Petrochemicals PMS gantry and coastal prices, which took effect on August 26.
According to the revised price table, the coastal price increased from N1,562,265 per metric ton to N1,582,380, while the gantry price rose from N1,185 to N1,200 per litre.
The refinery also directed customers to return all Authorisation to Collect (ATC) documents for repricing, after which new volume contracts would 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 notice stated.
The latest adjustment represents a N15 per litre increase and comes barely five days after the refinery raised its gantry price from N1,165 to N1,185 per litre. The previous increase took effect from midnight on August 21, 2026, according to industry trackers.
The latest price hike comes despite a decline in international crude oil prices on Tuesday. Data from Oilprice.com showed West Texas Intermediate crude trading at $82.13 per barrel, down $2.88, or 3.39 per cent. Brent crude fell by $3.80, or 4.12 per cent, to $88.37 per barrel, while Murban crude declined by $8.73, or 8.61 per cent, to $92.71 per barrel.
Marketers and depot operators who received the latest circular may have begun returning existing ATCs for repricing in line with the refinery’s directive.
The N15 increase could translate into higher retail petrol prices as marketers factor in transportation, landing and other downstream costs. Industry expectations are that petrol pump prices could rise to an average of N1,250 per litre.
The Dangote Group had not responded to inquiries regarding the latest price adjustment as of the time of filing this report.
The increase also comes amid renewed volatility in the international oil market linked to the ongoing US-Iran conflict. Reuters reported that crude prices fell after investors viewed the latest US sanctions against Iran as less threatening to global oil supplies than a potential military escalation.
However, analysts cautioned that the decline could be temporary, warning that oil prices could rise sharply if Iran responds with military action.
Supply disruption concerns also remain significant, particularly around the Strait of Hormuz. Reuters reported that only two commodity vessels transited the waterway on Monday, the lowest daily tally since early May.
The Strait of Hormuz previously handled about one-fifth of global oil consumption, leaving international energy markets vulnerable to further supply disruptions as tensions persist.
