Harrison EDEH
PREMIUM Motor Spirit (PMS) is gradually edging closer to N1,500 per litre as Dangote Petroleum Refinery has increased petrol price
The refinery increased the gantry price by 6.7 per cent to N1,350 per litre from N1,265 per litre, effective September 12, 2026.
The refinery also raised its coastal price to N1,783,530 from N1,669,543, representing an increase of N113,987, or 6.8 per cent.
In a memo to customers, Dangote Petroleum Refinery announced the revised prices, 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 amid renewed volatility in the international crude oil market, with Brent crude currently trading for $105 per barrel, according to oilprice.com
While the volatile price increase suffocates Nigerians’ spending on food and transportation logistics,the Nigerian government is smiling to bank with more money from excess crude savings since it premised the 2026 budget benchmark on $64.85 per barrel.
Notably,with the deregulation of petroleum downstream sector,petrol prices are largely influenced by crude oil costs, 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 will depend on transportation, distribution costs, competition and prevailing market conditions.
As a price leader ,the Dangote refinery has emerged as a major supplier of locally refined petrol as Nigeria seeks to reduce its dependence on imported petroleum products.
The latest increase might trigger a use in transportation and other logistic costs which could trigger inflation as price surge would be passed to consumers through pricing.
Marketers are now expected to adjust their purchase and selling prices in response to the new Dangote petrol rates.
