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Dangote Petroleum Refinery raised its gantry price for Premium Motor Spirit (petrol) by N15, moving the cost from N1,185 to N1,200 per litre starting August 26, 2026.
The refinery’s Group Commercial Operations communicated the change to customers on Tuesday, confirming that coastal prices also rose from N1,562,265 to N1,582,380 per metric tonne.
Management directed marketers to submit all outstanding authorisations to Collect documents for repricing before issuing new contracts for loading.
This latest adjustment follows a previous increase from N1,165 per litre just days earlier, signalling consecutive price hikes at the depot level.
Oil marketers expect this N15 increase to drive retail pump prices higher, with fuel projected to reach an average of N1,250 per litre across filling stations as distributors factor in added transport and downstream costs.
The refinery implemented the price hike even as global crude benchmarks experienced notable drops.
International crude oil prices slid, with Brent crude falling over four per cent to $88.37 per barrel amid shifting geopolitical dynamics and US-Iran sanctions.
However, ongoing supply risks surrounding the Strait of Hormuz continue to generate volatility across energy markets.
