Dangote raises petrol price again to ₦1,200 despite falling crude oil prices

The Dangote Petroleum Refinery has increased its petrol gantry price from ₦1,185 to ₦1,200 per litre, a move that could push pump prices higher for Nigerian motorists.

The new price took effect on Wednesday, August 26, 2026, according to a notice issued by the refinery’s Group Commercial Operations to its customers.

The latest adjustment comes just days after Dangote Refinery increased the price from ₦1,165 to ₦1,185 per litre on August 21.

New price may affect petrol pump prices

The refinery also raised its coastal price from ₦1,562,265 to ₦1,582,380 per metric tonne.

In the notice, the refinery directed customers to return their existing Authorisation to Collect documents for repricing before loading resumes.

The refinery said, “You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption.”

The latest ₦15 increase comes despite a decline in international crude oil prices. WTI was reported at $82.13 per barrel, while Brent crude stood at $88.37 per barrel.

Nigerians may face another fuel price increase

The increase could translate into higher petrol pump prices as marketers factor in transportation and other downstream costs. Petrol is expected to sell at an average of about ₦1,250 per litre.

The development comes amid renewed volatility in the global oil market linked to the ongoing US-Iran conflict and concerns over possible supply disruptions through the Strait of Hormuz.

The Dangote Group had yet to respond to enquiries regarding the latest price adjustment at the time of the report.