Dangote Petroleum Refinery and Petrochemicals FZE has increased the price of Premium Motor Spirit (PMS), commonly known as petrol, from N1,185 to N1,200 per litre, marking another adjustment in less than a week.
The new price took effect on Wednesday, August 26, 2026, according to a price notification sent by the refinery’s Group Commercial Operations to its customers.
The latest adjustment means marketers buying petrol directly from the refinery’s gantry will now pay N15 more per litre. The refinery also increased its coastal price from N1,562,265 to N1,582,380 per metric tonne.
In the notice, the refinery instructed customers to return their existing Authorisation to Collect (ATC) documents so they could be repriced. It also said new volume contracts would be issued to customers before loading could resume.
The latest increase comes only five days after Dangote Refinery moved its gantry price from N1,165 to N1,185 per litre on August 21. The two adjustments have therefore added N35 per litre to the refinery’s gantry price within a short period.
For motorists, the impact could eventually be felt at filling stations. Petrol pump prices are influenced not only by the refinery’s selling price but also by transportation, storage, distribution and other operating costs incurred by marketers.
With the latest adjustment, industry expectations suggest that petrol could trade around an average of N1,250 per litre in some locations, although actual pump prices may vary from one state, city or filling station to another.
The increase is also coming at a time when international crude oil prices have been under pressure. Data cited in the report showed West Texas Intermediate crude at about $82.13 per barrel, while Brent crude traded around $88.37 per barrel. Murban crude was also reported at approximately $92.71 per barrel.
The movement in petrol prices therefore highlights the complicated relationship between crude oil prices, refinery costs, exchange rates, logistics and local market conditions. A fall in international crude prices does not automatically translate into an immediate reduction in domestic petrol prices.
Global oil markets have also remained volatile because of tensions surrounding the United States and Iran. Concerns about possible disruptions to oil supplies, particularly through the Strait of Hormuz, continue to influence market expectations.
The Strait of Hormuz is especially important to global energy markets because a significant share of the world’s oil consumption passes through the waterway. Any major disruption could push international crude prices higher and increase pressure on fuel markets worldwide.
For Nigerian consumers, the latest Dangote Refinery adjustment means petrol prices will remain an important factor for household budgets, transportation costs and business expenses as the downstream market continues to adjust to changing market conditions.
