The Dangote Petroleum Refinery has raised its gantry price for Premium Motor Spirit, popularly known as petrol, by ₦15 to ₦1,200 per litre, marking its second price increase in less than one week.
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The new price takes effect from August 26, 2026, following a notice communicated to customers on Tuesday by the refinery’s Group Commercial Operations.
The latest adjustment comes just days after the refinery increased its gantry price from ₦1,165 to ₦1,185 per litre on August 21, meaning the refinery has raised its petrol price by a cumulative ₦35 per litre within five days.
In its latest notice titled, “PMS Price Change Communication (₦1,185 per Litre To ₦1,200 per Litre)”, the refinery also adjusted its coastal delivery price from ₦1,562,265 to ₦1,582,380 per metric tonne.
Customers with existing Authorisation to Collect documents were directed to return them for repricing before loading could resume.
“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 refinery had yet to publicly state the reason for the latest ₦15 increase.
The adjustment is drawing attention because it comes at a time when some international crude oil benchmarks have declined.
Data cited from Oilprice showed Brent crude at $86.83 per barrel, down 1.98 per cent, while West Texas Intermediate stood at $80.70 per barrel, down 2.02 per cent.
Murban crude, however, was reported at $93.44 per barrel, reflecting a different movement from Brent and WTI.
The apparent divergence between declining prices for some crude benchmarks and the increase in Dangote Refinery’s petrol price is expected to raise fresh questions over the factors driving domestic fuel pricing, including crude acquisition costs, foreign exchange, logistics, refining margins and broader market conditions.
The latest increase could also place additional pressure on petroleum marketers, who will have to factor the higher refinery gate price into transportation, storage and other distribution costs.
Industry sources expect the new ex-refinery price to eventually reflect at filling stations, with petrol potentially moving towards an average of about ₦1,250 per litre, depending on location, logistics and individual marketers’ costs.
That projection has not been announced as an official pump price and could vary significantly across different parts of the country.
The latest price movement comes amid uncertainty in the international oil market following tensions associated with the US-Iran conflict and concerns over shipping through the Strait of Hormuz.
Although crude prices have recently eased amid expectations that diplomatic developments and sanctions could reduce immediate threats to global supply, risks surrounding maritime transportation remain elevated.
Only two commodity vessels reportedly passed through the Strait of Hormuz on Monday, representing the lowest daily traffic through the strategic waterway since early May.
The Strait of Hormuz has historically handled about one-fifth of global oil consumption, making prolonged disruption capable of affecting crude oil and refined petroleum product prices internationally.
For Nigerian consumers, however, attention will be focused on how quickly the latest Dangote Refinery adjustment translates into retail pump prices.
The refinery’s latest increase from ₦1,185 to ₦1,200 per litre, coming only five days after the previous adjustment, is likely to intensify concerns over petrol costs and their wider impact on transportation, food prices and household expenses.
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