Dangote Petroleum Refinery has increased its petrol price from N1,185 to N1,200 per litre, adding fresh pressure to Nigeria’s already costly fuel market. The new gantry price took effect on Wednesday, August 26, 2026, according to a notice sent to the refinery’s customers.
In the communication, the refinery’s Group Commercial Operations also announced an increase in its coastal price from N1,562,265 to N1,582,380 per metric tonne. Customers were directed to return their existing Authorisation to Collect documents for repricing before new volume contracts are issued for loading to resume.
The latest adjustment marks the second petrol price increase by the refinery in less than a week. The gantry price had only recently moved from N1,165 to N1,185 per litre on August 21. With the latest N15 increase, marketers and depot operators may have to review their own prices, potentially pushing the average pump price towards N1,250 per litre after transportation and other downstream costs are added.
What makes the latest hike particularly notable is its timing. International crude prices have been falling, with West Texas Intermediate trading at $82.13 per barrel and Brent at $88.37 per barrel on Tuesday. Murban crude also declined to $92.71 per barrel. Despite the softer global oil prices, the Dangote Refinery’s latest adjustment means Nigerian consumers could still face higher costs at the pump.
The development comes amid continued uncertainty in the international oil market, with tensions surrounding the US-Iran conflict creating concerns about possible supply disruptions. While recent sanctions pushed crude prices lower as investors viewed the measures as less severe than expected, the situation remains unpredictable, particularly around the Strait of Hormuz, a major route for global oil shipments. For Nigerian motorists and businesses, the immediate concern is simple: another increase in petrol prices could mean higher transportation costs and more pressure on household budgets.
source: punch
