The Nigerian National Petroleum Company Limited (NNPCL) and other filling stations in Abuja have increased the pump price of Premium Motor Spirit (PMS), also known as petrol, following another adjustment by Dangote Refinery. Checks on Sunday, August 30, showed that several filling stations revised their prices upward after Dangote Refinery raised its ex-depot petrol price from N1,200 to N1,265 per litre, a N65 increase.
New Pump Prices Across Abuja
NNPC retail outlets moved their pump price from N1,250 to N1,270 per litre. AY Shafa also raised its petrol price from N1,250 to N1,270 per litre. Meanwhile, Optima increased its pump price from N1,260 to N1,300 per litre. These adjustments mean that petrol prices are now above N1,300 at some filling stations in the nation's capital.
The latest increase is part of a series of adjustments made by Dangote Refinery within the past week, reflecting a trend of frequent price changes that have left motorists paying more at the pump.
Crude Oil Prices Decline Despite Petrol Hike
The petrol price increase comes despite a decline in international crude oil prices. Benchmark crude prices fell from about $92 to $87.31 per barrel. Brent crude stood at $88.10 per barrel, representing a 0.47% decline, while West Texas Intermediate (WTI) fell 0.16% to $83.40 per barrel.
The development has raised concerns among consumers, particularly as higher petrol prices typically increase transportation and operating costs for households and businesses. The disconnect between falling crude oil prices and rising petrol prices has drawn attention from market observers.
Marketers Explain Frequent Price Adjustments
National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said marketers were compelled to review their prices following the successive adjustments by Dangote Refinery. Ukadike explained that marketers could not continue selling petrol below replacement cost, especially when the cost of replenishing their stocks keeps changing.
He said the frequent price adjustments were creating uncertainty for both marketers and consumers, as petroleum product prices could change within a short period. This uncertainty complicates planning for both businesses and households that rely on petrol for daily operations.
Dangote Refinery Expands Regional Exports
Earlier, Legit.ng reported that the Dangote Petroleum Refinery has exported 12 cargoes of refined petroleum products totalling 456,000 tonnes to five African countries, expanding its regional presence amid ongoing fuel supply challenges linked to geopolitical tensions in the Middle East.
The cargoes were shipped to Côte d’Ivoire, Cameroon, Tanzania, Ghana, and Togo. The products were sold to international traders on a Free on Board basis after the refinery reached its 650,000 barrels-per-day capacity in February 2026. This export activity underscores the refinery's growing role in regional fuel supply, even as domestic prices continue to adjust.
