Dangote Refinery Raises Petrol Price to N1,350, Surpassing N1,311 Landing-Cost Benchmark

The Dangote Petroleum Refinery has raised its gantry price for Premium Motor Spirit (PMS), commonly known as petrol, by ₦85 per litre, moving the price from ₦1,265 to ₦1,350.

The latest adjustment represents an increase of about 6.7 per cent and comes amid renewed pressure in Nigeria’s downstream petroleum market, with crude oil prices climbing sharply on the international market. Petroleumprice.ng reported the new refinery price on September 11, 2026.

The development is particularly notable because the new ₦1,350 refinery price is above the current petrol landing-cost benchmark of about ₦1,311 per litre. The landing cost represents the estimated cost of bringing imported petrol into Nigeria, including relevant international and logistics expenses.

The latest increase marks another significant movement in Dangote Refinery’s petrol pricing after a series of adjustments in recent weeks. The refinery had previously moved its gantry price from ₦1,165 to ₦1,185, then to ₦1,200 and subsequently ₦1,265 per litre.

The repeated adjustments have already affected petrol prices across different parts of the country. Before the latest increase, petrol was selling between roughly ₦1,299 and ₦1,350 per litre in parts of the Federal Capital Territory, depending on the filling station and location.

The latest development comes against the backdrop of a sharp rise in international crude prices. Brent crude was reported at about $105.50 per barrel on September 11, after touching approximately $107 earlier, while West Texas Intermediate traded around $100.80.

Industry operators have linked the pressure on domestic petrol prices to developments in the global oil market, particularly the continuing geopolitical tensions involving the United States and Iran and disruptions around the Strait of Hormuz. These developments have increased uncertainty over global crude and refined-product supplies.

The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, had warned that refiners, depot owners, marketers and retailers could review their prices upward in response to rising crude prices.

The latest Dangote adjustment could therefore trigger another round of price reviews across the downstream market as marketers seek to protect their margins and account for replacement costs. Recent experience shows that changes in refinery and depot prices are quickly reflected in pump prices in several locations.

For Nigerian consumers, another increase in the wholesale cost of petrol could have wider economic consequences. Higher fuel costs generally increase transportation expenses and can feed into the prices of food, logistics and other goods and services, adding to the cost-of-living pressures already confronting households and businesses.

The development also underscores the complex relationship between Nigeria’s growing domestic refining capacity and international oil-market conditions. Although the Dangote refinery has become a major source of refined petroleum products for the Nigerian market, its pricing remains exposed to the cost of crude, global energy-market movements and broader supply dynamics. Reuters recently reported that the refinery is operating at full capacity and expects global fuel shortages to persist amid disruptions to international refining infrastructure.