Nigeria's Petrol Cost Jumps 15.9% in Three Weeks

Dangote Petroleum Refinery's petrol gantry price has climbed by N185 per litre, or about 15.9%, over 22 days, after a fourth price increase since August 21 took the rate to N1,350 per litre from Saturday, September 12, 2026, as international crude prices remain elevated.

The refinery raised its gantry price, the rate at which fuel is loaded directly at the refinery gate, from N1,165 to N1,185 per litre on August 21, then to N1,200 on August 26, and to N1,265 on August 29, before Friday's N85 increase brought it to N1,350.

The pace of the increases, four adjustments inside three weeks, marks one of the steepest short-term climbs in the refinery's pricing since it began operations.

Refinery notifies customers of latest increase

The Group Commercial Operations division of Dangote Petroleum Refinery and Petrochemicals notified customers of Saturday's change in a circular issued late Friday. "Dear Valued Customer, please find below the revised DPRP PMS gantry and coastal prices, which are effective from 12th September 2026," the circular read.

The coastal delivery price, which applies to fuel transported by sea rather than collected at the refinery gate, was also raised, from N1,669,545 to N1,783,530 per metric tonne.

Customers were told to return all existing Authority to Collect documents for repricing, after which new volume contracts would be issued to allow loading to resume immediately.

Crude prices remain elevated on Strait of Hormuz risk

The successive increases have tracked a period of sustained pressure in the international crude market. Brent crude recently climbed above $104 a barrel, having earlier surged past $107, as a prolonged confrontation between the United States and Iran continued to disrupt oil supplies through the Strait of Hormuz, a critical shipping route for global oil cargoes.

Oil flows through the strait have fallen sharply in recent weeks, dropping well below levels recorded during an earlier period of recovery, while attacks on tankers and restricted shipping have intensified supply concerns and kept global benchmarks firm.

Dangote refinery officials had not responded to requests for comment on the latest increase at the time of publication. With Brent still trading above $100 a barrel and shipping disruptions through the Strait of Hormuz showing no clear sign of easing, the pace of increases seen over the past three weeks may not be over.