Dangote Petroleum Refinery and Petrochemicals has increased the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦1,200 per litre from ₦1,185 sold previously.
According to a notice sent to marketers on Tuesday, August 25, the revised petrol price takes effect from Wednesday, August 26, 2026.
Apart from the gantry price increase of ₦15 per litre, the refinery also revealed an upward adjustment of its coastal price, which is now ₦1,582,380 per metric tonne from ₦1,562,265 sold previously, reflecting a 1.3 per cent increase in price.
The notice shows that customers have been instructed to return existing loading documents (Authorisation to Collect documents -ATCs) for re-pricing before new loading can commence.
“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,” part of the notice to marketers read.
The latest increase comes barely five days after the refinery raised its gantry price from ₦1,165 to ₦1,185 per litre when global crude oil prices rose above $93 per barrel.
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Price Increase Amid Falling Crude Prices
There are concerns that this price adjustment comes despite a recent decline in international crude oil prices, which is the refinery’s primary feedstock. Brent crude prices have fallen from above $93 per barrel to around $85.84 per barrel, while West Texas Intermediate (WTI) dropped to $80 per barrel, according to data published by Oilprice.com on Wednesday, August 26, 2026.
Expected Impact on Consumers
Industry analysts say this increase in the refinery’s ex-depot prices will push retail pump prices higher. Petrol is expected to be between ₦1,250 and ₦1,300 per litre at filling stations, depending on location and distribution costs.
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Victor Ezeja is a Nigerian journalist skilled in producing insightful news analyses, feature stories, and interviews that simplify complex issues and drive informed public discourse. His work combines rigorous research, balanced reporting, and compelling storytelling to highlight developments shaping industries and society. Victor, who holds a Master's Degree in Mass Communication, specializes in energy, aviation, business, and economic reporting. He can be reached via @VICTOREZEJA on X