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Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (petrol) by N75 per litre, reflecting a downward adjustment in global energy market conditions.
In a circular to fuel marketers on Monday, the refinery said the price review was influenced by easing geopolitical tensions in the Middle East, which had previously pushed up crude and refined product costs over the past few months.
“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 circular stated.
It explained that the gantry price has been lowered from N1,250 to N1,175 per litre, while the coastal price per metric tonne was also reduced from N1,595,790 to N1,495,215.
The new pricing will take effect from midnight, with marketers advised that all pending gantry transactions will be adjusted to reflect the revised rates.
The refinery further assured customers of a continued stable supply and improved service delivery.
“Kindly note that all outstanding unloaded gantry volumes will be repriced at the new rate effective 12:00 AM, June 16, 2026.
“We sincerely appreciate your continued patronage and assure you of our unwavering commitment to reliable product supply and excellent service delivery,” the circular noted.
According to Market data, Dangote Refinery currently offers one of the lowest petrol prices in the domestic market, as many marketers sold it for around N1,240 on Monday.
The price reduction follows a broader decline in global oil prices, driven by reports of diplomatic progress between the United States and Iran over tensions in the Middle East and discussions around the reopening of the Strait of Hormuz.
International crude benchmarks, which had earlier surged during months of conflict, have begun to ease as expectations of improved supply stability grow.
In Nigeria, fuel prices had previously climbed significantly during the period of elevated global crude costs, with petrol rising from about N830 per litre to around N1,300 in some markets, alongside increases in diesel and aviation fuel.
With crude prices now softening, analysts expect further adjustments in domestic fuel pricing if the downward trend continues.
