Dangote Petroleum Refinery and Petrochemicals has increased the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, from N1,185 to N1,200 per litre, effective August 26, 2026.
The refinery announced the latest adjustment in a notice issued to customers on Tuesday by its Group Commercial Operations, making it the second petrol price increase in less than a week.
In the communication titled “PMS Price Change Communication (N1,185 Per Litre to N1,200 Per Litre),” the refinery unveiled revised depot prices for both gantry and coastal deliveries.
According to the new pricing schedule, the coastal price rose from N1,562,265 per metric tonne to N1,582,380 per metric tonne, while the gantry price increased by N15 per litre to N1,200.
The refinery also instructed customers to return all existing Authorisation to Collect (ATC) documents for repricing before loading can resume under the new rate.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption,” the notice stated.
The latest increase comes barely five days after Dangote Refinery raised its gantry price from N1,165 to N1,185 per litre, a review that took effect on August 21.
The fresh adjustment is expected to ripple across the downstream sector as marketers factor transportation, depot and distribution costs into their pricing models. Industry operators say pump prices could climb towards N1,250 per litre if the higher ex-depot rate is fully passed on to consumers.
The increase comes despite a recent decline in global crude oil prices. Data from Oilprice.com showed that West Texas Intermediate crude fell to $82.13 per barrel, down 3.39 per cent, while Brent crude dropped 4.12 per cent to $88.37 per barrel. Murban crude also declined 8.61 per cent to $92.71 per barrel.
The international oil market, however, remains volatile amid tensions surrounding the ongoing U.S.-Iran conflict. Analysts warn that any escalation capable of disrupting oil supplies could quickly reverse the recent decline in crude prices.
A major concern remains the Strait of Hormuz, one of the world’s most important energy corridors. Recent reports showed vessel traffic through the waterway has slowed significantly, raising fears of potential supply disruptions that could place fresh pressure on global oil prices.
Meanwhile, marketers and depot operators have begun returning existing ATCs for repricing in line with the refinery’s directive, paving the way for product loading under the new pricing structure.
