By Boluwatife Oshadiya | March 11, 2026
Key Points
- Dangote Refinery reduces petrol gantry price by ₦100 to ₦1,075 per litre
- Diesel price also falls by ₦190 to ₦1,430 per litre
- Adjustment follows decline in global crude oil prices to around $90 per barrel
Main Story
Dangote Petroleum Refinery has reduced its gantry price for Premium Motor Spirit (PMS) by ₦100, lowering the ex-depot rate from ₦1,175 to ₦1,075 per litre, in response to declining global crude oil prices.
The price adjustment, announced Tuesday, marks the first downward revision after a series of increases recorded in recent days as volatility in international oil markets pushed replacement costs higher.
Under the refinery’s revised pricing template, petrol supplied through its coastal distribution channel will now sell at ₦1,050 per litre, reflecting a slightly lower rate for marine deliveries compared with loading at the refinery’s gantry.
The refinery also cut the price of Automotive Gas Oil (diesel) by ₦190, reducing the gantry price to ₦1,430 per litre from ₦1,620 previously.
Industry data show the price adjustment followed a sharp decline in global oil markets, where Brent crude dropped to around $90 per barrel, reversing gains recorded earlier in the week when geopolitical tensions pushed prices above the $100 threshold.
The new gantry prices released by the refinery exclude statutory charges imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Market analysts say the move could ease pressure on downstream petroleum marketers and bulk fuel buyers who had been grappling with rising loading costs at depots nationwide.
The Issues
Nigeria’s deregulated downstream petroleum market has become increasingly sensitive to fluctuations in global crude prices since the removal of fuel subsidies.
Because domestic petrol prices are now largely determined by international benchmarks and import parity costs, local refiners — including the Dangote Refinery — adjust ex-depot prices frequently to reflect global market conditions.
Recent geopolitical tensions involving the United States, Israel, and Iran triggered a sharp rally in crude prices, prompting several upward revisions in petrol prices within days.
Industry analysts note that such volatility highlights the continued exposure of Nigeria’s fuel market to international energy shocks despite the commissioning of large domestic refining capacity.
What’s Being Said
“The price adjustment reflects the recent decline in global crude oil prices and the need to align domestic pricing with international market realities,” officials familiar with the refinery’s pricing structure said.
Energy market analysts say the reduction could provide short-term relief for marketers. “Lower ex-depot prices should ease pressure across depot channels and may eventually translate to modest pump price adjustments if the trend holds,” a downstream industry analyst said.
What’s Next
- Fuel marketers will monitor how quickly the revised ex-depot prices filter through distribution channels and influence pump prices nationwide.
- Global oil prices remain the key variable, with traders closely watching geopolitical developments in the Middle East.
- Further pricing adjustments by the refinery are possible if crude oil continues to fluctuate in international markets.
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