Dangote Refinery Cuts Petrol Price to N1,075 per Litre in Latest Review
Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), or diesel, offering potential short-term relief for fuel marketers, transport operators, and bulk buyers across Nigeria. The new pricing structure, released on Tuesday, marks a significant adjustment following recent increases in gantry prices that had raised concern in the downstream petroleum sector.
According to the refinery, the gantry price of petrol has been lowered by ₦100, bringing it to ₦1,075 per litre from ₦1,175 previously. The refinery also revealed that petrol supplied through its coastal distribution channel will now sell at ₦1,050 per litre, slightly cheaper for marine deliveries compared to products loaded directly at the refinery’s gantry. Similarly, diesel prices have been reduced to ₦1,430 per litre, representing a ₦190 decrease from the previous ex-depot price of ₦1,620 per litre.
The refinery clarified that the quoted ex-depot prices do not include statutory charges or regulatory fees imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which are typically added before the product reaches retail marketers. As a result, final retail pump prices may vary depending on distribution costs, logistics, and other operational factors.
Industry observers attributed the downward revision largely to recent declines in global crude oil prices, which have begun to ease cost pressures in the international petroleum market and influenced domestic pricing trends. Analysts suggest that the adjustment could provide temporary financial relief for marketers and transport operators, many of whom had struggled with the higher loading costs following earlier price hikes.
Market experts note that while the ex-depot price reduction is a positive step, the ultimate impact on retail pump prices will depend on how quickly depot operators and independent marketers pass on the savings to consumers nationwide. Currently, retail prices in many areas have remained above ₦1,200 per litre, factoring in supply costs, distribution margins, and regulatory fees.
The refinery’s announcement has prompted stakeholders in the transport and logistics sector to closely monitor the market in the coming days to see whether retail prices will reflect the recent cuts. Analysts also highlight that if global crude oil prices remain stable or continue to decline, further reductions in domestic fuel prices could be expected, potentially easing the cost of transportation, goods, and services in the broader economy.
The latest adjustment by Dangote Petroleum Refinery comes amid heightened public concern over Nigeria’s energy costs, following a period of extreme volatility that saw diesel and petrol prices soar to unprecedented levels. Market watchers hope this revision signals a gradual stabilization of fuel supply and pricing in the country.
