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/
The Dangote Petroleum Refinery increased its Premium Motor Spirit (petrol) price by N20 per litre, raising it from N1,165 to N1,185 per litre. This adjustment will be effective midnight on August 21, 2026, reports Petroleumprice.ng. The rise follows Brent crude futures reaching $93 per barrel, a three-week high, driven by fading hopes of talks between the US and Iran.
Oilprice.com notes that Brent increased by 1.95% to $93.48 per barrel, while the US benchmark, West Texas Intermediate crude, rose by 2% to $86.12 per barrel. Despite the price hike, Dangote’s gantry price remains N15 below the N1,200 per litre price at three depots and N5 below Pinnacle Oil and Gas's N1,190 per litre price. The company has yet to comment on the price increase.
Oil prices continued their fifth consecutive day of increase, fueled by US President Donald Trump's threats of economic consequences against Iran and concerns over stricter sanctions enforcement. Analysts suggest the crude market is underestimating potential supply disruptions in fuel markets despite recent crude price rises.
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