By Boluwatife Oshadiya | August 26, 2026, 1:08 PM
Key Points
- Dangote Refinery raises its petrol gantry price by N15 to N1,200 per litre effective August 26
- Coastal petrol price increases to N1.58 million per metric tonne from N1.56 million
- The latest adjustment comes as international crude prices decline and could push petrol pump prices higher
Main Story
Dangote Petroleum Refinery and Petrochemicals FZE has raised its Premium Motor Spirit (petrol) gantry price from N1,185 to N1,200 per litre, effective Wednesday, August 26, 2026.
The refinery’s Group Commercial Operations communicated the revised prices to customers in a Tuesday notice titled “PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre).” The notice covered both gantry and coastal deliveries.
The coastal price increased from N1,562,265 to N1,582,380 per metric tonne, while the gantry price rose by N15 per litre. The refinery also directed customers to return existing Authorisation to Collect documents for repricing before new volume contracts are issued for loading.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption.” Dangote Petroleum Refinery Group Commercial Operations.
The increase is the refinery’s second petrol price adjustment in less than a week. The previous price moved from N1,165 to N1,185 per litre and took effect on August 21, according to industry price reports.
The latest adjustment comes despite a decline in international crude prices. Oilprice.com data cited in current reports showed West Texas Intermediate at $82.13 per barrel, Brent at $88.37 and Murban at $92.71, all lower on the day.
The higher refinery price could feed into downstream prices as marketers account for transportation, depot and other distribution costs.
What’s Being Said
“The latest increase is particularly significant because it comes as international crude prices have moved in the opposite direction.” Waliat Musa, Reporter, The Guardian.
Dangote Group had not responded to BizWatch Nigeria’s request for clarification on the latest increase by the time of filing.
What’s Next
- Marketers are expected to return existing Authorisation to Collect documents for repricing before loading resumes under new volume contracts
- The revised N1,200 gantry price is expected to influence depot and retail petrol prices as marketers adjust their costs
- Market participants will continue to monitor international crude prices and their relationship with domestic petrol pricing
Bottom line
The Bottom Line: Dangote Refinery’s latest increase shows that domestic petrol prices are not moving in lockstep with short-term crude price movements. The higher gantry price is likely to keep pressure on downstream pricing even as international oil benchmarks retreat.
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