Dangote Petroleum Refinery has raised its Premium Motor Spirit (PMS) gantry price by ₦15 per litre, from ₦1,185 to ₦1,200, with the new price taking effect from Wednesday, August 26, 2026.
The revised price was contained in a commercial communication from Dangote Petroleum Refinery and Petrochemicals FZE made available to Petroleumprice.ng. The refinery also increased its coastal PMS price from ₦1,562,265 to ₦1,582,380 per metric tonne, representing an increase of ₦20,115/MT.
The latest adjustment marks the second PMS price increase by the refinery within seven days, coming despite the recent decline in international crude oil prices. The development is expected to put fresh upward pressure on the downstream market, particularly depot prices.
As of Monday, August 24, PMS was trading at ₦1,197 per litre at A.A. Rano depot in Lagos, while African Terminal and Integrated depots were both quoting ₦1,195 per litre, according to market data available to Petroleumprice.ng.
The new Dangote gantry price therefore places the refinery’s ex-gantry rate above the prices recorded at the monitored Lagos depots on Monday. Industry sources expect the latest refinery adjustment to be reflected in depot prices from Wednesday as marketers factor the higher replacement cost into their pricing.
The refinery instructed customers to return all existing Automated Truck Loading (ATC) tickets for repricing following the adjustment. It added that new volume contracts would be issued to enable the immediate resumption of loading under the revised commercial terms.
The coastal price adjustment will also affect bulk buyers taking PMS through coastal supply arrangements, with the new rate set at ₦1,582,380 per metric tonne from August 26.
The latest move comes at a time when international crude benchmarks have eased from recent highs, leaving downstream operators to question the reason behind Dangote Refinery’s latest increase despite a 4 per cent drop in oil prices today. For depot and retail marketers, however, the increase presents an opportunity to mark-up their profit, as the adjustment at the gantry and the retail level is expected to take effect immediately.