Dangote Refinery Slashes Petrol Gantry Price by N75 to N1,175 per Litre

Nigeria’s downstream petroleum sector received a significant boost on Tuesday as the Dangote Petroleum Refinery announced a reduction in its ex-gantry price of Premium Motor Spirit (PMS), popularly known as petrol, by ₦75 per litre. The new gantry price now stands at ₦1,175 per litre, down from the previous ₦1,250 per litre.

According to information released to marketers and customers, the revised pricing took effect from 12:00 a.m. on June 16, 2026. The refinery attributed the downward adjustment to easing tensions in the Middle East and the resulting decline in international crude oil prices, which have helped moderate production and supply costs.

The latest reduction comes barely weeks after the refinery had cut its gantry price by ₦25 per litre, from ₦1,275 to ₦1,250 per litre. Industry observers believe the fresh price review reflects the refinery’s effort to align with prevailing global market realities while improving affordability for fuel marketers and consumers.

In addition to the petrol price reduction, the refinery also reviewed its coastal loading price downward, reducing it from ₦1,595,790 per metric tonne to ₦1,495,215 per metric tonne. The company further indicated that all outstanding unloaded gantry volumes would be repriced at the new rate from the effective date.

Analysts say the move is expected to intensify competition in Nigeria’s downstream petroleum market, potentially prompting private depot operators and fuel marketers to lower their prices in the coming days. If sustained, the development could provide some relief to businesses and households grappling with high transportation and energy costs.

Market stakeholders will now be watching closely to see how quickly the reduction at the depot level translates into lower pump prices across filling stations nationwide. While retail prices often take time to adjust following changes in ex-depot rates, the latest cut is widely viewed as a positive signal for consumers and the broader economy.