With effect from August 26, 2026, Dangote Petroleum Refinery and Petrochemicals FZE has raised the gantry price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per liter.
The refinery’s Group Commercial Operations released updated depot rates for gantry and coastline deliveries in an official letter to clients on Tuesday.
Customers were requested to take note of the updated DPRP PMS gantry and coastline price, which is effective August 26, 2026, in an email headed “PMS Price Change Communication (N1,185 per Liter To N1,200 Per Litre).”
The notice’s table shows that the gantry price jumped from N1,185 to N1,200 per liter, while the coastal price climbed from N1,562,265 to N1,582,380 per metric ton.
Additionally, the refinery informed customers that a new volume contract will be issued for an immediate resumption of loading and instructed them to return all Authorization to Collect documents for repricing.
“A fresh volume contract will be issued for immediate loading restart, and you are recommended to return all ATCs for repricing. Please do not hesitate to contact us if you need any additional explanation,” the warning stated.
Only a few days after the refinery increased the price from N1,165 to N1,185 per liter, the most recent modification implies a N15 per liter rise in the gantry price. Industry trackers show that the prior rise went into effect at midnight on August 21, 2026.
However, the most recent increase coincides with a decline in the price of crude oil globally. West Texas Intermediate crude was selling at $82.13 a barrel on Tuesday, down $2.88 or 3.39 percent, according to data from oilprice.com. Brent crude was trading at $88.37 per barrel, down $3.80 or 4.12 percent. Murban crude dropped $8.73, or 8.61 percent, to $92.71 a barrel.
According to our correspondent, marketers and depot operators may have started returning current ATCs for repricing in accordance with the refinery’s directive after receiving the circular.
As oil marketers account for transportation, landing, and other downstream expenses, the N15 hike may lead to increased pump prices. It is anticipated that the average price of gasoline will rise again to N1,250 per liter.
Our correspondent’s messages have not yet received a response from the Dangote Group.
The price increase coincides with a period of increased volatility in the global oil market due to the ongoing confrontation between the United States and Iran. According to Reuters, oil prices dropped as investors saw a war escalation as a greater threat to the world’s oil supplies than the most recent US sanctions against Iran. Analysts cautioned that the drop might be an overreaction, pointing out that if Iran retaliates militarily, prices might spike.
With just two commodity ships passing through the Strait of Hormuz on Monday—the fewest daily total since early May—Reuters also stated that supply disruption worries persisted. Before the crisis started, the canal accounted for around one-fifth of the world’s oil consumption, making the market susceptible to more disruptions.
