Dangote Petroleum Refinery and Petrochemicals FZE has increased its Premium Motor Spirit (PMS) gantry price from N1,185 to N1,200 per litre, marking its second petrol price increase in five days.
The new price took effect on Wednesday, August 26, 2026, according to a price communication issued to customers by the refinery’s Group Commercial Operations.
The latest adjustment represents a N15 per litre increase, following the refinery’s N20 hike from N1,165 to N1,185 per litre on August 21.
This means Dangote’s petrol gantry price has increased by N35 per litre within five days.
In the latest price notice, the refinery also increased its coastal PMS price from N1,562,265 to N1,582,380 per metric tonne.
Customers were directed to return existing Authorisation to Collect (ATC) documents for repricing
The refinery said new volume contracts would be issued after the existing ATCs had been repriced.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption.”
The directive means marketers and other bulk buyers will have to adjust their purchase documentation to reflect the new prices.
The latest petrol hike comes at a time when international crude oil prices have moved lower.
Data cited in reports on the development showed West Texas Intermediate trading at $82.13 per barrel, down $2.88, or 3.39 per cent.
Brent crude stood at $88.37 per barrel, representing a decline of $3.80, or 4.12 per cent, while Murban crude fell to $92.71 per barrel.
Petrol marketers still have to account for transportation, storage, logistics, operating expenses and other downstream costs before selling the product to motorists.
Industry reports indicate that petrol could return to an average of around N1,250 per litre, although the actual retail price will vary by location and marketer.
The new Dangote price is also higher than prices recorded at some major Lagos depots on August 25.
The latest adjustment comes amid continued volatility in the global oil market linked to the ongoing US-Iran conflict.
Falling crude prices have been attributed partly to investors’ assessment that recent US sanctions against Iran pose less immediate risk to global oil supplies than a military escalation.
However, supply disruption concerns remain, particularly around the Strait of Hormuz, a critical route for global energy shipments.
Reuters reported that the Dangote refinery is also dealing with crude supply challenges, with between 30 and 40 per cent of its crude currently imported. The refinery has been sourcing some supplies from countries including the United States and Guyana.
The refinery, which has an initial capacity of 650,000 barrels per day, is now operating at its initial full capacity and has tested output of 700,000 barrels per day, according to Reuters.
For motorists, the immediate effect of the latest adjustment will depend on how petroleum marketers and filling station operators respond to the higher wholesale price.
Dangote Group had not publicly explained the reason for the latest N15 increase as of the time of reporting.
