NEWS UPDATE
THE Dangote Petroleum Refinery has increased the gantry price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per litre, effective August 26, 2026.
The hike comes barely days after the refinery raised the price from N1,165 to N1,185 per litre.
Voice Air Media gathered that the increase follows an official communication to customers directing them to return Authorisation to Collect documents for repricing.
The hike comes despite falling international crude oil prices, with Brent crude dropping to $88.37 per barrel.
The N15 increase could result in higher pump prices, with petrol expected to return to an average of N1,250 per litre.
Highlights:
The price increase contradicts the downward trend in international crude prices.
Consumers may face higher pump prices, with petrol expected to hit N1,250 per litre.
The US-Iran conflict continues to create volatility in global oil markets.
The hike could fuel inflation and increase transportation costs.
The refinery’s pricing strategy may reflect hedging against future supply disruptions.
With Dangote raising prices despite falling crude costs and global supply risks persisting, the question is whether this trend will continue and how it will affect Nigerian consumers.
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