Dangote Petroleum Refinery has increased the gantry price of Premium Motor Spirit from N1,185 to N1,200 per litre, taking effect on August 26, 2026. The revision was formally communicated to customers through an official notice from the refinery's Group Commercial Operations titled “PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre),” which outlined adjusted depot rates for both gantry and coastal deliveries. Under the new pricing structure, bulk coastal rates climbed to N1,582,380 per metric tonne, while gantry prices saw a N15 per litre uptick. To implement the changes, the refinery instructed petroleum marketers and depot operators to return all active Authorisation to Collect documents so new volume contracts can be processed prior to resuming loading operations. This latest price adjustment comes shortly after a previous increase on August 21, 2026, when prices rose from N1,165 to N1,185 per litre.
This domestic price increase stands in sharp contrast to recent movements in the international energy sector, where global crude oil benchmarks have experienced a noticeable decline. West Texas Intermediate dropped 3.39% to $82.13 per barrel, Brent Crude slipped 4.12% to $88.37 per barrel, and Murban Crude fell 8.61% to $92.71 per barrel. While crude prices softened as financial markets weighed the reduced likelihood of immediate supply shocks stemming from U.S. sanctions against Iran, underlying geopolitical tensions continue to cloud the market outlook. Supply route vulnerabilities remain a key concern, highlighted by a sharp reduction in vessel traffic through the Strait of Hormuz, a crucial maritime corridor handling roughly a fifth of global oil consumption. Local industry analysts anticipate that this N15 wholesale increase from the refinery will inevitably be passed down to end-users, pushing retail pump prices to an estimated average of N1,250 per litre once distribution, transportation, and regional handling overheads are integrated.
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