Fuel Price Sh*ck: Dangote Refinery Raises Petrol Price Nigerians React

The Dangote Petroleum Refinery and Petrochemicals has increased the price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦1,185 to ₦1,200 per litre.

The latest adjustment, which took effect on Wednesday, August 26, 2026, represents a ₦15 increase in the refinery’s gantry price.

The refinery communicated the new pricing to its customers in a notice issued on Tuesday by its Group Commercial Operations.

The notice, titled “PMS Price Change Communication (₦1,185 Per Litre to ₦1,200 Per Litre),” contained revised prices for both gantry and coastal deliveries.

Under the new pricing structure, the coastal delivery price increased from ₦1,562,265 to ₦1,582,380 per metric tonne.

Customers were also instructed to return existing Authorisation to Collect (ATC) documents for repricing before fresh volume contracts could be issued and loading operations resumed.

The refinery stated that customers should return all ATCs for repricing, after which new volume contracts would be issued to facilitate immediate resumption of loading.

The latest adjustment comes just five days after the refinery increased its petrol price from ₦1,165 to ₦1,185 per litre.

That earlier increase took effect at midnight on August 21, 2026. With the latest ₦15 adjustment, the refinery’s gantry price has risen by a total of ₦35 per litre within five days.

The development could trigger further increases in petrol prices at filling stations as marketers factor in transportation, depot charges and other downstream expenses.

Meanwhile, international crude oil prices recorded declines on Tuesday. Data from Oilprice.com showed West Texas Intermediate (WTI) trading at $82.13 per barrel, down $2.88 or 3.39 per cent.

Brent crude was quoted at $88.37 per barrel, representing a decline of $3.80 or 4.12 per cent, while Murban crude fell to $92.71 per barrel, shedding $8.73 or 8.61 per cent.

Despite the decline in global crude prices, Nigeria’s domestic petrol market has continued to experience significant price fluctuations.

Following the latest directive, marketers and depot operators who received the refinery’s circular reportedly began returning their existing ATCs for repricing.

The repricing process is expected to be completed before new volume contracts are issued and loading resumes under the revised rates.

The development comes amid renewed volatility in the international oil market, with the ongoing United States-Iran conflict contributing to uncertainty over global energy prices and supply.