Dangote Petroleum Refinery and Petrochemicals FZE has raised the minimum price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per liter, starting August 26, 2026.
In a formal message to customers on Tuesday, the refinery’s Group Commercial Operations announced enhanced depot costs for gantry and coastline delivery.
The email, titled ‘PMS Price Change Communication (N1,185 per Liter To N1,200 Per Liter),’ requested that clients take note of the increased DPRP PMS gantry and coastline prices, which are effective August 26th, 2026.
According to the notice’s table, the coastal price jumped from N1,562,265 per metric ton to N1,582,380, while the gantry price rose from N1,185 to N1,200 per liter.
The refinery also instructed customers to return all Authorization to Collect documents for repricing, stating that a new volume contract would be issued for immediate loading resume.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption. Should you require any further clarification, please do not hesitate to contact us,” the notice said.
The current revision implies an N15 per liter rise in the gantry price, coming just days after the refinery raised it from N1,165 to N1,185 per liter. The previous rise took effect at midnight on August 21, 2026, according to industry monitors.
However, the latest increase occurs against the backdrop of dropping international crude oil prices.
On Tuesday, oilprice.com reported that West Texas Intermediate crude was trading at $82.13 a barrel, down $2.88, or 3.39 percent, while Brent crude was at $88.37 per barrel, down $3.80, or 4.12 percent. Murban crude also plummeted to $92.71 per barrel, down $8.73 or 8.61 percent.
It WAS gathered that marketers and depot operators who received the circular may have begun returning existing ATCs for repricing in accordance with the refinery’s directive.
The N15 increase may result in higher pump prices as oil marketers consider transportation, landing, and other downstream costs. Petrol prices are projected to return to an average of N1,250 per liter.
The Dangote Group has yet to react to our correspondent’s messages.
The price hike comes at a time of rising volatility in the worldwide oil market amid the ongoing US-Iran rivalry. According to Reuters, oil prices fell as investors saw the fresh US sanctions against Iran as less damaging to world oil supplies than a military escalation.
Analysts, however, cautioned that the decrease could be an overreaction, warning that if Iran retaliates militarily, costs could skyrocket.
According to Reuters, supply disruption fears continued, with only two commodity boats traversing the Strait of Hormuz on Monday, the lowest daily tally since early May.
The waterway handled roughly one-fifth of world oil consumption prior to the conflict, making the market vulnerable to further interruptions.
SOURCE: chronicle.ng
