By Seun Ibiyemi
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.
The latest adjustment, which took effect on Wednesday, August 26, 2026, represents a N15 increase per litre and is the second price hike by the refinery within five days.
The refinery announced the new price in a communication to customers issued on Tuesday by its Group Commercial Operations department.
The notice, titled “PMS Price Change Communication (N1,185 per Litre to N1,200 per Litre)”, also contained revised prices for gantry and coastal deliveries.
According to the notice, the coastal price increased from N1,562,265 per metric tonne to N1,582,380 per metric tonne, while the gantry price moved to N1,200 per litre.
The refinery directed customers to return all existing Authorisation to Collect (ATC) documents for repricing before loading resumes.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption,” the refinery said.
The latest increase comes barely five days after Dangote Refinery raised its gantry price from N1,165 to N1,185 per litre, effective August 21.
The successive adjustments could put further pressure on petrol prices across the country as marketers factor the new ex-depot price into transportation, logistics, storage and other downstream costs.
Industry sources expect the latest development to translate into pump prices of around N1,250 per litre in some locations, depending on distribution costs and prevailing market conditions.
The latest price adjustment also comes amid volatility in the international crude oil market.
Data cited from Oilprice.com showed West Texas Intermediate crude trading at $82.13 per barrel, while Brent crude stood at $88.37 per barrel.
Murban crude was quoted at $92.71 per barrel.
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The increase in the refinery’s petrol price therefore comes despite the recent decline in international crude benchmarks, adding another layer to the pricing dynamics in Nigeria’s deregulated downstream petroleum market.
The development also comes amid heightened uncertainty in the global oil market linked to tensions involving the United States and Iran, with concerns over possible disruptions to crude supplies through the Strait of Hormuz.
As of the time of filing this report, the Dangote Group had not responded to enquiries on the reasons for the latest PMS price adjustment.
