The Dangote Petroleum Refinery has raised its Premium Motor Spirit (PMS) gantry price by ₦20 per litre, moving from ₦1,165 to ₦1,185 per litre, effective midnight on Friday, August 21, 2026, according to information gathered by Petroleumprice.ng. The adjustment comes as Lagos depot prices also shifted across major facilities, with PMS trading at about ₦1,200 per litre at Integrated Oil and Gas, African Terminals, and Nipco depots, and at ₦1,190 per litre at Pinnacle Oil and Gas.
Dangote Price Remains Below Depot Benchmarks
With the new adjustment, Dangote Refinery's ₦1,185 per litre gantry price remains below the prevailing depot prices. The refinery's price is ₦5 per litre lower than Pinnacle's ₦1,190 rate and ₦15 below the ₦1,200 per litre price recorded at the other three depots. This means the latest increase has not pushed Dangote's refinery price above the major depot market benchmarks.
Another key factor is the prevailing import-related cost of petrol. The Major Energy Marketers Association of Nigeria (MEMAN) currently puts the landing cost of PMS at approximately ₦1,218 per litre. At ₦1,185 per litre, Dangote Refinery's new gantry price is therefore ₦33 below the reported landing cost benchmark. The price gap could help the refinery remain competitive in the downstream market despite the latest ₦20 increase.
Impact on Petrol Pump Prices
The increase in Dangote's gantry price does not automatically mean petrol stations will immediately raise their pump prices by ₦20 per litre. Marketers still have to factor in transportation, logistics, storage, distribution expenses, and other applicable costs before determining their final selling prices. Pump prices can therefore vary from one location to another depending on the marketer's supply chain and operating costs.
For now, Dangote's new ₦1,185 per litre price remains below the quoted Lagos depot rates and the ₦1,218 per litre landing-cost benchmark. The next major test will be how marketers respond to the adjustment and whether changes in crude oil prices, foreign exchange rates, freight costs, and international petrol prices widen or narrow the current price gap.
Market Awaits Marketers' Response
The latest Dangote price adjustment is likely to keep attention focused on the relationship between refinery prices, depot rates, and petrol import parity. The development could influence petrol pricing across the country in the coming days, particularly as marketers reassess their supply costs and margins.
Legit.ng earlier reported that Dangote Petroleum Refinery held its petrol gantry price at N1,165 per litre on August 18, 2026, even as Nigeria's estimated spot import parity price for Premium Motor Spirit climbed above that level, data published by the Major Energies Marketers Association of Nigeria (MEMAN) showed. The MEMAN Energy Bulletin for August 18 put the estimated spot import parity price at N1,212.45 per litre and N1,211.44 per litre. The price gap between Dangote's refinery price and import parity underscores the refinery's competitive position in the downstream market.
