Author: Gist Correspondent

Dangote Petroleum Refinery and Petrochemicals FZE has increased the gantry price of Premium Motor Spirit (PMS), also known as petrol, from N1,185 to N1,200 per litre, with effect from August 26, 2026.

The latest adjustment was communicated to customers in a notice issued on Tuesday by the refinery's Group Commercial Operations, which also announced revised depot prices for both gantry and coastal deliveries.

According to the notice, the coastal price rose from N1,562,265 to N1,582,380 per metric tonne, while the gantry price increased by N15 per litre.

The refinery directed customers to return all existing Authorisation to Collect (ATC) documents for repricing, stating that fresh volume contracts would be issued to enable the immediate resumption of product loading.

The new increase comes just days after the refinery raised its gantry price from N1,165 to N1,185 per litre, a revision that took effect on August 21.

The latest price adjustment was announced despite a decline in international crude oil prices. Market data on Tuesday showed Brent crude, West Texas Intermediate (WTI) and Murban crude posting notable losses.

Industry observers say the increase could trigger a fresh rise in retail petrol prices as marketers factor transportation, distribution and other operational costs into pump prices, with estimates suggesting the product could sell for about N1,250 per litre in some locations.

Meanwhile, the Dangote Group had not issued any official explanation for the latest increase as of the time of filing this report.

The adjustment comes amid continued volatility in the global oil market, driven by geopolitical tensions involving the United States and Iran. Although crude prices declined following fresh U.S. sanctions on Iran, analysts caution that any further escalation in the conflict could disrupt global supply and push oil prices higher.