The new price took effect on August 26, 2026.
The refinery announced the adjustment in a notice issued to customers on Tuesday by its Group Commercial Operations department.
The communication, titled “PMS Price Change Communication N1,185 per Litre to N1,200 per Litre,” contained revised prices for gantry and coastal deliveries.
According to the price schedule attached to the notice, the coastal price rose from N1,562,265 per metric tonne to N1,582,380 per metric tonne.
The gantry price was also increased from N1,185 to N1,200 per litre.
The refinery directed customers to return all existing Authorisation to Collect documents for repricing. It added that new volume contracts would be issued to allow loading operations to resume immediately.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption. Should you require any further clarification, please do not hesitate to contact us,” the notice stated.
The latest adjustment represents an increase of N15 per litre and comes barely days after the refinery raised its gantry price from N1,165 to N1,185 per litre.
The previous increase took effect at midnight on August 21, 2026, according to industry trackers.
Marketers and depot operators who received the latest circular may have begun returning their existing ATCs for repricing in line with the refinery’s directive.
The new increase could push pump prices higher as oil marketers factor in transportation, landing and other downstream costs. Petrol prices are expected to rise to an average of N1,250 per litre.
The Dangote Group had not responded to messages seeking clarification as of the time of filing this report.
The latest price increase comes amid renewed volatility in the international oil market and a decline in crude oil prices.
Data from Oilprice.com on Tuesday showed that West Texas Intermediate crude traded at $82.13 per barrel, down by $2.88 or 3.39 per cent.
Brent crude fell to $88.37 per barrel, representing a decline of $3.80 or 4.12 per cent, while Murban crude dropped to $92.71 per barrel after losing $8.73 or 8.61 per cent.
The adjustment also comes against the backdrop of the ongoing conflict between the United States and Iran.
Reuters reported that oil prices declined after investors assessed the latest US sanctions against Iran as less threatening to global oil supplies than a possible military escalation.
However, analysts warned that the decline could be temporary, saying prices might rise sharply if Iran responds with military action.
Supply disruption concerns have also persisted. Reuters reported that only two commodity vessels passed through the Strait of Hormuz on Monday, the lowest daily figure since early May.
Before the conflict, the waterway carried about one-fifth of global oil consumption, leaving international markets vulnerable to further disruptions.
The latest development is expected to intensify concerns among consumers and transport operators, who continue to face rising fuel costs and the wider effects of fluctuations in the downstream petroleum market.
