Dangote Petroleum Refinery and Petrochemicals FZE has announced an immediate upward adjustment in the wholesale price of Premium Motor Spirit (PMS), pushing the depot gantry rate from ₦1,185 to ₦1,200 per litre effective 26 August 2026.
The ₦15 increase follows an official notice issued on Tuesday by the facility’s Group Commercial Operations. Titled ‘PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre)’, the email informed distributors of revised pricing across both inland loading gantries and off-shore coastal points.
Under the updated structure, the coastal price rose from ₦1,562,265 to ₦1,582,380 per metric tonne, alongside the ₦1,200 gantry mark. The refinery instructed petroleum buyers to return existing loading clearances for reissuance:
“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.”
Under the updated structure, gantry deliveries rose from ₦1,185 to ₦1,200 per litre, while coastal prices increased from ₦1,562,265 to ₦1,582,380 per metric tonne, effective 26 August 2026.
The adjustment marks the second price hike in less than a week, after the refinery raised gantry fees from ₦1,165 to ₦1,185 per litre at midnight on 21 August. Depot operators and oil marketers have reportedly commenced returning their Authorisation to Collect (ATC) documents to conform with the directive. Industry watchers warn the surge will trickle down to retail pumps, with average filling station rates expected to hit ₦1,250 per litre once transport and handling logistics are factored in.
Paradoxically, the domestic hike comes as global crude benchmarks experience a downward drift amid geopolitical fluctuations. Market data showed West Texas Intermediate dropping 3.39 per cent to $82.13 per barrel, while Brent crude fell 4.12 per cent to $88.37 per barrel. Murban crude also saw a 8.61 per cent decline to $92.71 per barrel.
Energy analysts note that international oil markets remain volatile due to ongoing U.S.-Iran tensions. While traders initially viewed recent U.S. sanctions as less threat to supply than direct conflict, risks persist along critical trade routes. Only two commodity tankers traversed the Strait of Hormuz on Monday, the lowest daily tally since May, leaving global petroleum markets vulnerable to sudden price spikes if military friction escalates.