IPMAN signals petrol price review as Dangote raises diesel price again
IPMAN signals petrol price review as Dangote raises diesel price again
The Independent Petroleum Marketers Association of Nigeria has said filling stations across the Federal Capital Territory have begun preparations to review petrol pump prices as new petroleum products enter the market.
IPMAN National Publicity Secretary, Chinedu Ukadike, disclosed this to the News Agency of Nigeria on Thursday in Abuja.
He stated that the arrival of fresh supply will necessitate adjustments to both pricing and sales strategies, but did not indicate whether the review would be upward or downward. Ukadike added that no definite arrival date has been given, though purchases could commence within the next few days.
“Once the new products begin arriving, marketers are expected to respond quickly by reviewing their prices and updating their product offerings,” Ukadike said, noting that any changes will be carried out in line with existing regulations governing petroleum product sales.
The association’s position comes as Dangote Petroleum Refinery announced another increase in diesel costs. Effective 12:00 a.m. on Friday, September 4, 2026, Automotive Gas Oil will rise by ₦100 to ₦1,850 per litre.
This represents a 5.7% increase from ₦1,750 and follows an earlier adjustment from ₦1,670, bringing total increases to ₦180 per litre in recent weeks.
The refinery also raised its gantry petrol price three times over the past week, from ₦1,165 per litre to ₦1,185, ₦1,200 and most recently ₦1,265. The increments have already reflected at retail outlets in the FCT, drawing complaints from motorists who have called on the Federal Government to intervene.
Ahead of Dangote’s diesel price announcement, Discovererngr had reported on Wednesday of a likely increase in the pump prices of petroleum products, citing Monday’s attacks by the US military on Iran and the resulting tension in global oil markets.
Market analysts attribute the upward pressure to rising global crude prices and refinery disruptions in parts of the Middle East and Russia. As of Thursday, Brent crude traded at $97.29 per barrel while WTI stood at $92.77.
With IPMAN set to review petrol prices and diesel costs climbing, the development is expected to impact transportation, power generation and other commercial operations that depend heavily on refined products.
