Dangote Hikes Petrol Price Amid Rising Crude Oil Futures
The Dangote Petroleum Refinery has raised its Premium Motor Spirit (PMS) price by N20 per litre, from N1,165 to N1,185 per litre. This new price will take effect from midnight on August 21, 2026.
The increase comes as Brent crude futures topped $93 per barrel on Thursday, hitting a three-week high amid fading hopes of talks between the United States and Iran.
Brent crude, the international benchmark, rose by 1.95% to $93.48 per barrel, while the US benchmark, West Texas Intermediate (WTI) crude, gained 2% to $86.12 per barrel.