Dangote Raises Petrol Price to N1,200/L Despite Crude Price Decline

Dangote Petroleum Refinery and Petrochemicals FZE has increased the price of Premium Motor Spirit, commonly known as petrol, from N1,185 to N1,200 per litre.

The latest adjustment takes effect from Wednesday, August 26, 2026, according to a notice issued by the refinery’s Group Commercial Operations to its customers.

The communication, titled “PMS Price Change Communication (N1,185 Per Litre to N1,200 Per Litre),” informed customers of revised prices for gantry and coastal deliveries.

Under the new pricing structure, the refinery’s gantry price has risen by N15 per litre, while its coastal price increased from N1,562,265 per metric tonne to N1,582,380 per metric tonne.

The refinery also instructed customers to return all Authorisation to Collect documents for repricing before loading operations resume.

It said new volume contracts would be issued to customers to facilitate immediate resumption of loading.

The latest increase comes barely five days after the refinery raised its petrol gantry price from N1,165 to N1,185 per litre.

That previous adjustment took effect from midnight on August 21, 2026.

The consecutive price increases have raised concerns among consumers and industry stakeholders, particularly as international crude oil prices have recently declined.

The Dangote refinery has not publicly provided a detailed explanation for the latest adjustment beyond communicating the revised prices to its customers.

The price movement at the refinery is significant because changes in its gantry price can influence the cost of petrol supplied to marketers and, ultimately, the price paid by motorists and other consumers across Nigeria.

The refinery’s latest adjustment could therefore trigger further changes in retail petrol prices depending on the pricing decisions of fuel marketers and other downstream operators.

The development comes amid continued volatility in Nigeria’s downstream petroleum market following the transition to a deregulated petrol pricing regime.

With the new price effective from August 26, customers purchasing petrol directly from the refinery will now pay N1,200 per litre at the gantry.