Dangote Refinery Raises Petrol Price Amid Oil Surge

The Dangote Petroleum Refinery has announced an increase in its gantry price for Premium Motor Spirit (PMS), or petrol, from N1,265 to N1,350 per litre, effective Saturday, September 12, 2026. This adjustment, communicated in a circular by the Group Commercial Operations, represents an N85 per litre increase and is the fourth upward revision since August 21.

The previous price adjustments included increases from N1,165 to N1,185 on August 21, then to N1,200 on August 26, and finally to N1,265 on August 29. In total, the gantry price has risen by N185 per litre in just 22 days, reflecting a 15.9 percent increase.

The price hike is attributed to renewed volatility in the international oil market, with Brent crude trading above $104 per barrel. The refinery also raised its coastal delivery price for petrol from N1,669,545 to N1,783,530 per metric tonne.

Customers were instructed to return existing Authority to Collect documents for repricing and to expect new volume contracts for loading.