Nigeria petrol prices rise amid Dangote Refinery adjustments

Petrol marketers in Nigeria are reporting significant uncertainty as the price of Premium Motor Spirit (petrol) reaches between N1,250 and N1,300 per litre in certain locations. This follows a recent price hike by the Dangote Petroleum Refinery, which increased its gantry price by N15 per litre to N1,200, effective August 26, 2026.

Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, stated that the volatility makes business planning difficult. He noted that marketers are struggling with a combination of international market fluctuations, government policies, and exchange rate movements. While the refinery has previously adjusted prices in line with international trends, the current upward movement occurs even as international crude oil prices have seen declines.