- Dangote Refinery has raised its ex-depot petrol price by N65 to N1,265 per litre, triggering fresh pump price increases across Abuja
- NNPC retail outlets moved their pump price from N1,250 to N1,270 per litre, with some marketers now selling above N1,300
- The price hike arrived despite falling international crude oil prices, drawing concern from consumers and marketers
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
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.
Checks on Sunday, August 30 showed that several filling stations adjusted their prices following another increase in Dangote Refinery’s petrol ex-depot price.
Photo: Bloomberg
Source: Getty Images
Dangote Refinery raised its petrol gantry price from N1,200 to N1,265 per litre.
This represents a N65 increase from the previous price of N1,200 per litre and the latest in a series of adjustments made by the refinery within the past week.
NNPC, other filling stations raise petrol prices
The latest increase has been reflected in petrol prices across Abuja, with motorists now paying more at several filling stations.
Checks showed that NNPC retail outlets increased 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.
The latest adjustments mean that petrol prices are now above N1,300 at some filling stations in the nation’s capital.
Crude oil prices decline
The latest 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.
Photo: Bloomberg
Source: UGC
Why petrol prices keep changing
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.
Dangote refinery exports 456,000 tonnes of fuel
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.
Source: Legit.ng