Dangote Petroleum Refinery has raised the price of Premium Motor Spirit, popularly known as petrol, from ₦1,185 to ₦1,200 per litre, its second increase in less than a week.

The new gantry price takes effect on Wednesday, August 26, 2026, according to a notice sent to customers by the refinery’s Group Commercial Operations on Tuesday. 

The latest adjustment means Dangote has increased its petrol price by ₦35 in five days. The refinery raised the price from ₦1,165 to ₦1,185 per litre on August 21 before announcing Wednesday’s additional ₦15 increase. 

The refinery also increased its coastal price from ₦1,562,265 to ₦1,582,380 per metric tonne. In the notice, customers were directed to return their existing Authorisation to Collect documents for repricing, after which new volume contracts would be issued to allow immediate loading to 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 development is likely to put additional pressure on petroleum marketers, who will now have to factor the higher Dangote price into their procurement and distribution costs.

The impact on pump prices, however, may vary from one location to another because marketers also incur transportation, storage, financing and other logistics costs after purchasing the product.

Also Read: OGTAN moves to tackle Nigeria’s oil and gas skills gap

The new Dangote price is also above some depot prices recorded in Lagos earlier this week. Petrol was reportedly selling for around ₦1,197 per litre at A.A. Rano and ₦1,195 at African Terminals and Integrated, although depot prices can change quickly as suppliers adjust to market conditions. 

The latest move comes at a time when Dangote has become an increasingly important source of petrol for the Nigerian market. The refinery has also become a major exporter of petroleum products, with Reuters reporting this week that Nigeria’s seaborne petroleum product exports have increased sevenfold since 2023, largely because of output from the Dangote refinery. 

However, the refinery still depends partly on imported crude to maintain its operations. Reuters reported on Wednesday that about 30 to 40 percent of Dangote’s crude is currently imported, with supplies coming from countries including the United States and Guyana. The report noted that crude sourcing remains an important consideration for the refinery as it prepares for its planned initial public offering. 

This means movements in the international crude market do not necessarily translate directly or immediately into changes in the refinery’s petrol price. The cost of crude used by a refinery can depend on the grade purchased, when it was bought, freight and other supply costs, rather than simply the spot price of Brent on a particular day.

The petrol market has also become increasingly volatile this year. Dangote reduced its gantry price from ₦1,215 to ₦1,165 per litre earlier in August before reversing part of that reduction with the increases announced on August 21 and August 26.

The latest increase therefore brings the refinery’s petrol price back above the ₦1,200 mark, while motorists and marketers await to see how much of the additional cost will be passed through the supply chain.

The wider oil market remains unsettled by geopolitical tensions involving Iran and disruptions around the Strait of Hormuz. Reuters reported that concerns over refined fuel supplies remain significant even as crude prices have eased, with refined product flows affected by the conflict. 

For Nigerian consumers, the immediate concern is whether the latest increase at the refinery will trigger another round of price adjustments at depots and filling stations.

With Dangote’s gantry price now at ₦1,200 per litre, any further increase in downstream costs could push pump prices higher in the coming days, particularly in areas where transportation and distribution expenses are already elevated.

Meiza Nigeria