By RhemDy News
Following increase of crude oil prices in the global market, the Dangote Petroleum Refinery has raised its Premium Motor Spirit (PMS) from N1,165 to N1,185 effective from Friday, August 21, 2026.
According to Petroleumprice.ng, the increment followed Brent crude futures rising above $93 per barrel on Thursday amid growing concerns over tensions between the United States and Iran.
Oilprice.com also reports that Brent crude, which is the international benchmark rose from 1.95 per cent to $93.48 per barrel, while West Texas Intermediate (WTI), the US benchmark, gained two per cent to $86.12 per barrel.
The latest increase also comes as petrol sells for about N1,200 per litre at some Lagos depots, including Integrated Oil and Gas, African Terminals and NIPCO, while Pinnacle Oil and Gas sells at N1,190 per litre.
With the latest adjustment, Dangote Refinery’s gantry price remains N15 below the N1,200 per litre price at the three depots and N5 below Pinnacle’s N1,190 per litre.
Dangote Refinery has not officially issued a statement to announce the prices adjustment as at the time of this report.
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