The Dangote Petroleum Refinery has increased the gantry price of Premium Motor Spirit, popularly known as petrol, by N85 per litre, taking the wholesale price from N1,265 to N1,350.
The latest adjustment, which takes effect from Saturday, September 12, 2026, represents a 6.7 per cent increase and comes amid a sharp rise in international crude oil prices and higher replacement costs for refined petroleum products. The new price was reported by industry price trackers and multiple Nigerian outlets on Friday.
The development marks the fourth upward review of Dangote Refinery’s petrol gantry price since August 21, further intensifying pressure on the downstream petroleum market and raising the prospect of higher pump prices for motorists.
The refinery first raised its petrol price from N1,165 to N1,185 per litre on August 21. Five days later, it increased the price again to N1,200 before another adjustment on August 29 took the price to N1,265 per litre. The latest N85 increase brings the total increase since August 21 to N185 per litre, representing about 15.9 per cent.
The latest increase follows a significant rally in global crude oil prices. Nigerian crude benchmark prices have come under pressure as the continuing conflict involving the United States and Iran has disrupted supplies and shipping routes in the Middle East.
Dangote Refinery Raises Petrol Price by N85 to N1,350 per Litre
Brent crude rose to around $107 per barrel earlier this week, from about $100 a day earlier, adding to concerns over the cost of replenishing petroleum stocks. The increase has already pushed Nigeria’s estimated petrol import-parity cost above N1,300 per litre.
Data from the Major Energies Marketers Association of Nigeria had put the estimated PMS landing cost at N1,311.36 per litre as of September 8, up from a 30-day average of N1,216.34. At the time, Dangote’s N1,265 gantry price remained below the import-parity benchmark by more than N46 per litre.
The latest adjustment now places Dangote’s gantry price above that previously reported landing-cost figure, although international prices have continued to move since the MEMAN assessment.
Dangote Refinery Raises Petrol Price by N85 to N1,350 per Litre
The increase also comes as the refinery expands its role in Nigeria’s domestic and regional petroleum markets. Reuters reported this week that Dangote had secured at least 16 million barrels of crude for October delivery, equivalent to about 520,000 barrels per day, as the refinery ramps up operations toward its 700,000-barrel-per-day capacity.
Dangote Refinery’s management has previously explained that its pricing is influenced by the cost of crude and other market conditions, including the time required to procure and ship feedstock. The refinery has also become increasingly significant to Nigeria’s fuel supply as international disruptions affect the global petroleum market.
For consumers, the immediate concern is whether the latest wholesale increase will translate into another round of pump-price increases. Depot owners and independent marketers typically adjust their selling prices in response to changes in acquisition costs, although the final retail price varies according to location, transportation costs and individual market conditions.
The latest development means Nigerian motorists are once again facing renewed uncertainty over petrol prices, just weeks after the Dangote refinery implemented three separate increases within eight days.
