Oil marketers have begun adjusting the pump prices of Premium Motor Spirit (PMS), popularly known as petrol, following the latest increase in the ex-depot price by Dangote Petroleum Refinery.
The refinery on Tuesday night raised its gantry price from N1,185 to N1,200 per litre, representing a N15 increase and the second price adjustment within five days.
The latest increase took effect on Wednesday August 26, 2026, and is expected to further influence petrol prices across the downstream oil market as marketers review their operating and distribution costs.
Dangote Refinery communicated the new price to its customers through its Group Commercial Operations department in a notice titled, “PMS Price Change Communication (N1,185 Per Litre to N1,200 Per Litre).”
The refinery directed customers to take note of the revised gantry and coastal delivery prices under the new pricing structure.
The coastal price was also increased from N1,562,265 per metric tonne to N1,582,380 per metric tonne, representing an increase of N20,115 per metric tonne.In addition, the refinery instructed customers to return all Authorisation to Collect documents for repricing.
It also said new volume contracts would be issued to enable customers to immediately resume loading under the revised pricing arrangement.
The latest increase has also generated concerns among consumers because it came at a time when international crude oil prices have declined amid renewed diplomatic engagements between the United States and Iran.
Yesterday Brent crude was priced for $88.57 per barrel as uncertainty over the fresh talks between the US and Iran persists.
But filling stations have started adjusting pump prices in Lagos, Abuja and Kano as confirmed by our Reporters.
In Abuja, a litre of fuel is sold between N1250 and N1,290. In Lagos, some stations marginally adjusted pump prices while a large majority of the stations are yet to change prices.
