Dangote raises petrol price as crude tops $93
Dangote Petroleum Refinery increases petrol gantry price by N20 to N1,185 per litre, effective August 21, 2026, as Brent crude tops $93. Read More: https://punchng.com/dangote-raises-petrol-price-as-crude-tops-93/
Dangote Petroleum Refinery has increased the price of Premium Motor Spirit (petrol) by N20 per litre, from N1,165 to N1,185 per litre. This new price will become effective from midnight on August 21, 2026, as reported by Petroleumprice.ng. The adjustment follows Brent crude futures topping $93 per barrel on Thursday, reaching a three-week high due to diminishing hopes for U.S.-Iran talks.
Brent crude, the global benchmark, rose 1.95% to $93.48 per barrel, while the US benchmark, West Texas Intermediate crude, gained 2% to $86.12 per barrel. The price hike comes as diesel prices in the United States hit triple digits for the first time ever, with the premium over crude prices reaching $102 per barrel in some areas.
Despite the crude oil price surge, analysts suggest the market remains underestimating actual supply constraints in fuel markets, with Head of Commodity Strategy at Saxo Bank, Ole Hansen, noting that Brent crude is currently trading at $90 per barrel, lower than earlier peaks.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
