Dangote Petroleum Refinery and Petrochemicals FZE has raised the price of Premium Motor Spirit (PMS), commonly known as petrol, at its gantry from N1,185 to N1,200 per litre.
The new price took effect on August 26, 2026, according to a notice sent to customers by the refinery’s Group Commercial Operations on Tuesday.
The communication, titled ‘PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre)’, informed customers of the revised prices for PMS supplied through gantry and coastal deliveries.
Under the new pricing structure, the coastal price moved from N1,562,265 per metric tonne to N1,582,380, while the gantry rate increased by N15 per litre.
The refinery also instructed customers to submit their existing Authorisation to Collect 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. Should you require any further clarification, please do not hesitate to contact us,” the notice said.
The latest adjustment comes just days after Dangote Refinery increased its gantry price from N1,165 to N1,185 per litre. That revision took effect from midnight on August 21, 2026, according to industry trackers.
The latest increase has occurred despite a decline in global crude oil prices.
Data from oilprice.com on Tuesday showed West Texas Intermediate crude at $82.13 per barrel, representing a drop of $2.88 or 3.39 per cent.
Brent crude also declined by $3.80 or 4.12 per cent to $88.37 per barrel, while Murban crude fell by $8.73 or 8.61 per cent to $92.71 per barrel.
Marketers and depot operators who received the refinery’s latest circular were said to have started returning their existing ATCs for repricing in compliance with the directive.
The N15 per litre increase could translate into higher retail prices as marketers factor in transportation and other downstream expenses. Average petrol pump prices are expected to move towards N1,250 per litre.
The Dangote Group had yet to respond to enquiries from our correspondent at the time of filing this report.
The latest price adjustment also comes amid heightened uncertainty in the global oil market linked to the ongoing US-Iran conflict.
Reuters reported that crude prices fell after investors assessed the latest US sanctions against Iran as posing less risk to global oil supplies than a potential military escalation.
Analysts, however, cautioned that the decline could prove temporary, with prices capable of rising sharply if Iran responds with military action.
According to Reuters, concerns over possible supply disruptions persisted, with only two commodity vessels passing through the Strait of Hormuz on Monday, the lowest daily figure since early May.
The strategic waterway accounted for about one-fifth of global oil consumption before the conflict, leaving international energy markets exposed to further supply disruptions.