Dangote Ignores World Crude Price Drop, Lifts Motor Fuel Price To ₦1,200/Litre
Despite the current drop in crude prices in the international spot market, Nigeria’s Dangote Petroleum Refinery and Petrochemicals FZE has raised its petrol gantry price from ₦1,185 to ₦1,200 per litre, effective today, August 26, 2026.
Oil prices fell more than 3 percent on Tuesday as the US scaled up economic sanctions rather than military strikes to pressure Iran and threatened allies of its enemy nation with trade punishments.
Brent futures, the international benchmark, dropped 3.9 percent to close at $88.58 per barrel.
US West Texas Intermediate crude lost 3.1 percent to settle at $82.36 a barrel.
On the aggregate, Prices fell more than 5 percent this week after the US government unveiled the fresh raft of sanctions on Iran and so-called enablers that continue to trade with the Islamic Republic.
However, in Nigeria, Dangote issued an official communication to customers on Tuesday of a price change.
The refinery’s Group Commercial Operations sent out a “PMS Price Change Communication (₦1,185 Per Litre To ₦1,200 Per Litre),” informing customers of revised prices for gantry and coastal deliveries.
In the communication, the coastal price was also increased from ₦1,562,265 per metric tonne to ₦1,582,380 per metric tonne.
The latest ₦15 increase comes barely five days after Dangote Refinery raised its petrol gantry price from ₦1,165 to ₦1,185 per litre.
That adjustment took effect from midnight on August 21, according to industry trackers.
The latest increase means the refinery has raised its gantry price by ₦35 per litre since August 21.
Dangote also instructed customers to return existing Authorisation to Collect documents for repricing, after which new volume contracts would be issued to enable loading to resume.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption”, the refinery said.
