Dangote Petroleum Refinery has announced a fresh reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, lowering its gantry loading price by N75 per litre.
The adjustment brings the refinery’s petrol loading cost down from N1,250 per litre to N1,175 per litre, a development that could provide some relief for fuel marketers and eventually impact pump prices across parts of the country.
The refinery disclosed the new pricing structure in a notice issued to customers on Monday, stating that recent improvements in global energy market conditions influenced the decision.
New Dangote Refinery Petrol Price Takes Effect
According to the notice, the revised ex-depot price took effect from midnight on June 16, 2026.
Dangote Refinery explained that the reduction followed a decline in international energy market pressures after reports of easing geopolitical tensions in the Middle East.
The company noted that the improved global outlook has contributed to softer energy prices, creating room for a downward review of its petrol pricing.
“Following the de-escalation of tensions in the Middle East, which has impacted energy prices, we wish to inform you that we have reviewed our premium motor spirit gantry/coastal price,” the refinery stated.
The company also confirmed that all outstanding unloaded gantry volumes would be recalculated based on the new pricing structure.
Coastal Price Also Reduced
In addition to the reduction in the ex-depot price, Dangote Refinery announced a downward adjustment in its coastal pricing.
Under the new framework, the coastal price has been reduced from N1,595,790 per metric tonne to N1,495,215 per metric tonne.
The refinery assured customers of its commitment to maintaining stable product supply while continuing to provide efficient service delivery.
Why Dangote Refinery Reduced Petrol Prices
The latest reduction is largely linked to developments in the global crude oil market.
Over the past few weeks, concerns about potential supply disruptions pushed crude oil prices higher as tensions escalated in parts of the Middle East.
However, reports of renewed diplomatic engagement between the United States and Iran, particularly discussions aimed at ensuring stability around the Strait of Hormuz, have helped calm market fears.
As a result, international oil prices have shown signs of stabilising after previously climbing to around $83 per barrel during periods of heightened uncertainty.
With energy costs easing globally, refiners and fuel suppliers have gained greater flexibility to adjust product prices downward.
What the New Petrol Price Means for Nigerians
While the ex-depot price reduction applies primarily to marketers purchasing products directly from the refinery, industry observers say consumers could eventually benefit if marketers pass on the savings through lower retail pump prices.
The extent of any reduction at filling stations will depend on several factors, including:
- Transportation and logistics costs
- Retail operating expenses
- Market competition
- Existing fuel inventories
- Regional distribution costs
If the lower depot price is reflected across the supply chain, motorists and businesses could see some relief from fuel expenses in the coming days and weeks.
Dangote Refinery Remains a Key Player in Nigeria’s Fuel Market
Since commencing large-scale operations, Dangote Refinery has become one of the most influential suppliers in Nigeria’s petroleum sector.
Industry pricing platforms reported that Dangote petrol remained among the most competitively priced products in the market prior to the latest reduction, with many marketers selling products sourced from the refinery at around N1,240 per litre on Monday.
The latest adjustment further strengthens the refinery’s position in Nigeria’s downstream petroleum market and could influence broader pricing trends across the country.
Conclusion
Dangote Refinery’s decision to reduce its petrol loading price by N75 per litre reflects improving conditions in the global energy market following easing geopolitical tensions in the Middle East.
With the new ex-depot price now set at N1,175 per litre, fuel marketers and consumers will be watching closely to see whether the reduction translates into lower pump prices across Nigeria in the coming weeks.
