Politics
Dangote Refinery Raises Petrol Price To N1,350 Per Litre
Dangote Petroleum Refinery has increased the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, from N1,265 to N1,350 per litre.
The new price, which represents an N85 increase, took effect on Saturday, September 12, 2026, according to a circular issued to the refinery’s customers by its group commercial operations on Friday.
The latest adjustment is the fourth increase in the refinery’s petrol gantry price in less than one month.
The refinery had raised the price from N1,165 to N1,185 per litre on August 21, before increasing it to N1,200 on August 26 and N1,265 on August 29.
With the latest hike, the price has risen by N185 per litre since August 21, representing an increase of about 15.9 percent.
Dangote Refinery also raised its coastal delivery price from N1,669,545 to N1,783,530 per metric tonne.
In the circular, customers were informed that the revised PMS gantry and coastal prices became effective from September 12.
The refinery directed customers to return all existing authority to collect documents for repricing, after which new volume contracts would be issued to enable them resume loading.
The latest increase comes amid renewed volatility in the international oil market, with crude prices remaining elevated.
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Brent crude recently traded above $104 per barrel after earlier climbing beyond $107, as tensions involving the United States and Iran heightened concerns over global oil supplies.
Concerns have also intensified around the Strait of Hormuz, a major global oil transit route, following disruptions and heightened risks to tanker movements.
The developments have raised fears over crude and refined petroleum product supplies, adding further pressure to international oil prices.
Petroleumprice.ng also reported the new N1,350 per-litre gantry price and the revised coastal delivery rate.
The latest adjustment could have implications for petrol pricing across the downstream market as marketers take into account the new ex-refinery cost.
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