Dangote Petroleum Refinery has raised its Premium Motor Spirit (PMS) gantry price by ₦20 per litre, from ₦1,165 to ₦1,185 per litre, with the new price effective midnight, August 21, 2026. The revised price was gathered by Petroleumprice.ng.
The adjustment comes against a Lagos depot market where PMS is currently trading at ₦1,200 per litre at Integrated Oil and Gas, African Terminals and Nipco, while Pinnacle Oil and Gas is at ₦1,190 per litre. On that basis, Dangote’s new gantry price remains ₦15 below Pinnacle’s depot price and ₦15 below the ₦1,200 per litre level recorded at the other three depots.
More significantly, the refinery’s revised price remains below the prevailing import-related cost benchmark. The Major Energy Marketers Association of Nigeria (MEMAN) puts PMS landing cost at ₦1,218 per litre, leaving Dangote’s new gantry price ₦33 per litre below landing cost.
For the downstream market, the adjustment is therefore better viewed within the relationship between refinery supply, depot pricing and import parity rather than as an automatic indication of an equivalent increase in pump prices. Marketers’ final prices will continue to reflect logistics, transportation, storage, distribution costs and applicable margins across their respective supply chains.
The latest revision also leaves Dangote PMS competitively positioned against depot prices and the current landing-cost benchmark, even after the ₦20 per litre increase. The key market question will now be how marketers respond to the new refinery price and whether subsequent changes in crude, freight, foreign exchange and international product values alter the price differential in the coming days.