Nigerian motorists may face another increase in petrol prices after the Dangote Petroleum Refinery reviewed its petrol price upward for the second time in less than a week.

The refinery has moved its Premium Motor Spirit (PMS) price from ₦1,185 to ₦1,200 per litre, with the new rate taking effect on Wednesday, August 26, 2026.

The latest adjustment means Dangote’s petrol price has gone up by ₦35 per litre in just five days. The refinery had increased the price from ₦1,165 to ₦1,185 on August 21. The development is coming at a time when international crude oil prices have been moving in the opposite direction.

Dangote Refinery’s ₦1,200 figure is its gantry price, meaning the price at which petroleum products are sold to marketers before additional costs are added. It is therefore not the same as the price motorists will necessarily see at filling stations.

Marketers still have to factor in transportation, storage, depot charges and other distribution expenses before selling petrol to consumers. This means the latest adjustment could eventually reflect in pump prices in different parts of the country.

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

Customers who had already received Authorisations to Collect petrol were asked to return them for repricing before new volume contracts are issued.

The latest increase is particularly notable because it follows a reduction earlier in August.

On August 6, Dangote Refinery reduced its petrol gantry price from ₦1,215 to ₦1,165 per litre as international oil prices weakened. That reduction was short-lived.

By August 21, the refinery had raised the price again to ₦1,185 after crude prices climbed, with Brent crude trading above $93 per barrel at the time. Five days later, another ₦15 was added, bringing the price to ₦1,200.

International crude prices have dropped in recent days. Brent crude was reported at around $88.37 per barrel, while West Texas Intermediate was trading at about $82.13 per barrel on Tuesday.

So, while crude oil has become cheaper on the international market, Dangote's latest petrol price has gone up.

However, a fall in crude prices does not automatically translate into an immediate reduction in the price of refined petrol.

Factors such as the cost of crude already purchased, exchange rates, refining expenses, transportation and prevailing market conditions can affect the price refiners charge.

Dangote Refinery has not publicly given a specific reason for Wednesday's ₦15 adjustment.

For Nigerians already dealing with high transportation and living costs, another increase in petrol prices could have wider effects. Higher fuel costs often feed into the cost of transportation, food distribution and other everyday goods and services.

For now, ₦1,200 per litre is Dangote Refinery's new gantry price, not a fixed nationwide pump price.