The Dangote Petroleum Refinery has increased its Premium Motor Spirit, PMS, popularly known as petrol, gantry price by 6.7 per cent from N1,265 per litre, to N1,350 per litre, this will take effect from the 12th of September, 2026.
The refinery also raised its coastal price from N1,669,543, to N1,783,530, representing an increase of 6.8 per cent or N113,987.
In a memo to customers, Dangote Petroleum Refinery made the revised prices known, saying: “Dear valued customer, please find below the revised DPRP PMS gantry and coastal price which is effective 12th September 2026.”
The refinery also directed customers with existing loading arrangements to return their Automated Truck Certificates, ATCs, for repricing.
It said: “You are advised to return all ATCs for repricing and a new volume contract will be issued for immediate loading resumption.”
The latest adjustment is expected to increase the acquisition cost of petrol for marketers sourcing supplies from the refinery and could put upward pressure on pump prices.
The increase comes in the middle of renewed volatility in the international crude oil market, with Brent crude recently trading above $100 per barrel.
Nigeria’s downstream oil sector is deregulated, and petrol prices are determined by crude oil costs and refining expenses, foreign exchange, logistics and market forces.
Consequently, the new Dangote price is expected to trigger reviews by marketers, although the extent of any adjustment at filling stations is greatly dependent on transportation, distribution costs, competition and prevailing market conditions.
The Dangote refinery has emerged as a major supplier of locally refined petrol as Nigeria seeks to reduce its dependence on imported petroleum products.
If marketers pass on the increased acquisition cost, the latest increase could impact consumers and businesses at the retail level. Adjustments to purchase and selling prices are now anticipated in line with Dangote’s revised rates.