The N15 increase takes effect on August 26, with the refinery also raising its coastal price as global crude prices retreat

The Dangote Petroleum Refinery and Petrochemicals FZE has raised its Premium Motor Spirit, popularly known as petrol, gantry price from N1,185 to N1,200 per litre, effective Wednesday, August 26, 2026, in another adjustment that could put fresh pressure on pump prices across Nigeria.

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The latest Dangote petrol price increase was communicated to customers on Tuesday by the refinery’s Group Commercial Operations, which issued revised depot prices for both gantry and coastal deliveries. (Punch Newspapers)

According to the notice, the coastal price increased from N1,562,265 per metric tonne to N1,582,380 per metric tonne, while the gantry price moved up by N15 per litre.

The refinery also instructed customers to return all existing Authorisation to Collect documents for repricing before loading resumes under new volume contracts.

“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption,” the refinery said in the notice.

The latest adjustment comes only five days after Dangote Refinery raised its gantry price from N1,165 to N1,185 per litre, with the earlier rate taking effect from August 21. (The Sun Nigeria)

The two increases mean the refinery’s gantry price has risen by N35 per litre in less than a week, following a N20 increase announced last week.

The move is particularly notable because it comes as international crude prices have retreated from recent highs.

Reuters reported that Brent crude fell to about $86.80 per barrel on Wednesday, while US West Texas Intermediate dropped to around $80.87, as renewed discussions between Iran and Oman raised hopes of a temporary arrangement to ease restrictions around the Strait of Hormuz. (Reuters)

The decline followed an even sharper fall in the previous session, with Brent and WTI dropping by roughly 3.9 per cent and 3.1 per cent respectively. (Barron’s)

The Strait of Hormuz remains a critical factor in the global oil market.

Before the conflict, the waterway carried roughly one-fifth of global oil and liquefied natural gas shipments, meaning any sustained disruption could quickly alter crude supply expectations and transportation costs. (Reuters)

For Nigerian consumers, however, the immediate concern is how quickly the new depot price will filter through the downstream market.

The N15 increase at the refinery level does not automatically translate into a uniform N15 rise at filling stations. Retail prices also reflect transportation, depot handling, dealer margins, logistics and other downstream costs.

Industry reports following the previous increase showed that petrol was already selling at different prices across Lagos depots, with Dangote’s N1,185 rate remaining below the N1,200 quoted by several major independent depots. (The Sun Nigeria)

The latest increase could nevertheless create renewed upward pressure as marketers adjust their own prices to reflect higher replacement costs.

The development also comes amid changing supply dynamics in Nigeria’s downstream market.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority reported that Dangote supplied an average of 25.8 million litres of petrol daily to the domestic market in July, down from 32.5 million litres per day in June. (Legit.ng – Nigeria news.)

At the same time, petrol imports increased in July, suggesting that domestic supply from the 650,000-barrel-per-day refinery was not the sole source of petrol available to Nigerian consumers.

That changing balance has added another layer to an already competitive market, where domestic refiners, importers and independent depot operators are competing for market share.

Dangote Refinery has nevertheless become an increasingly important player in Nigeria’s fuel supply chain.

Recent US Energy Information Administration data cited by Reuters showed that Nigeria’s seaborne petroleum product exports have increased sevenfold since 2023, largely driven by the refinery’s production. (Reuters)

The refinery’s pricing decisions therefore carry considerable weight across the domestic market, particularly when marketers revise their depot and retail prices in response.

The latest adjustment also highlights the difficulty of linking petrol prices directly to movements in international crude prices.

While cheaper crude can reduce production and replacement costs, local fuel prices are influenced by several other factors, including exchange rates, supply availability, logistics and market conditions.

For motorists and businesses already dealing with elevated transport and operating costs, another increase could prove significant if it is passed through fully to the pump.

The Dangote petrol price is now N1,200 per litre at the gantry, with the new rate taking effect from August 26.

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Whether that translates into a comparable increase at filling stations will depend on how marketers respond to the revised cost and the direction of crude prices in the days ahead.