Dangote Petroleum Refinery and Petrochemicals FZE has raised the gantry price of Premium Motor Spirit, popular known as petrol, from N1,185 to N1,200 per litre, taking effect on August 26, 2026.
The adjustment was detailed in an official circular sent to customers on Tuesday by the refinery’s Group Commercial Operations, outlining updated depot rates for both coastal and gantry deliveries.
The notification, bearing the subject line “PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre),” informed buyers to adhere to the updated Dangote Petroleum Refinery and Petrochemicals PMS rates starting August 26, 2026.
Data provided in the notice shows that the coastal rate jumped from N1,562,265 to N1,582,380 per metric tonne, while the gantry rate moved from N1,185 up to N1,200 per litre.
Customers were further instructed by the facility to send back all existing Authorization to Collect permits so they can be re-evaluated under the new pricing tier, with fresh volume agreements being issued to allow loading operations to restart.
“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 stated.
This latest adjustment represents a N15 increase per litre for gantry sales, arriving just days after the price was bumped from N1,165 to N1,185 per litre. That prior hike went into effect at midnight on August 21, 2026, based on energy market logs.
This upward revision occurs despite a downward trend in international crude values. Figures from Oilprice.com on Tuesday indicated West Texas Intermediate crude dropped by $2.88, or 3.39 percent, to sell at $82.13 per barrel, whereas Brent crude slipped by $3.80, or 4.12 percent, to settle at $88.37 per barrel. Murban crude also experienced a decline of $8.73, or 8.61 percent, settling at $92.71 per barrel.
Marketers and depot managers who got the communication are believed to have started submitting their active ATCs for price adjustments to align with the company’s instructions.
The N15 increase is expected to drive up retail pump prices once distributors account for transit, delivery, and additional logistics expenses, likely pushing retail petrol to around N1,250 per litre.
The Dangote Group has not yet replied to inquiries regarding the development.
The upward shift coincides with unstable conditions in global energy markets linked to tensions between the US and Iran. A report from Reuters indicated that crude prices fell after investors assessed recent US sanctions against Iran to be less disruptive to global supply than direct military action.
However, market observers warn that the price dip might be temporary, cautioning that values could surge if Iran launches a military response. Reuters added that supply risks persist, noting only two commercial ships passed through the Strait of Hormuz on Monday—the lowest single-day number recorded since early May. The critical sea passage previously moved roughly one-fifth of global oil consumption prior to the conflict, leaving global markets prone to future supply shocks.
