A significant reduction in petrol prices was announced by the Dangote Refinery, dropping gantry rates to N1,200 per litre for marketers nationwide.
LAGOS — A significant reduction in the gantry price of premium motor spirit (PMS) was announced by the Dangote Petroleum Refinery and Petrochemicals. The price was lowered to N1,200 per litre.
Similarly, a coastal price of N1,153 per litre was established by the refinery management. These details were contained in a statement released on Thursday by the company’s spokesperson, Anthony Chijiena.
A N85 margin was shed from the previous rate of N1,285 per litre. This move by the 650,000-barrels-per-day facility represents a strategic shift in its pricing model.
It follows five consecutive price increases implemented by the refinery since March 2026.
Global oil markets remains volatile. Macro-economic headwinds and geopolitical tensions in the Middle East have dictated price directions for months.
However, this downward review is expected to ease the financial burden on downstream stakeholders.
Distribution channels, including depots and retail outlets, will be impacted by this adjustment. Many Nigerians anticipate a corresponding drop in pump prices across the country.
The refinery’s decision is seen by analysts as a move to stabilize the domestic energy market.
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