Dangote Petroleum Refinery has announced a further reduction in the gantry price of Premium Motor Spirit (PMS), or petrol, from N865 to N835, representing a 3.5 per cent decrease.
This price change is due to the recent drop in global crude oil prices, which have fallen to $64 per barrel from more than $70 per barrel in the past few weeks.
Previously, the refinery had lowered its gantry price from N880 to N865 per litre; however, oil marketers did not transfer the savings to consumers.
The updated pricing document indicates that PMS at the gantry will now be priced at ₦835 per litre, which includes NMDPRA statutory charges, while coastal sales remain suspended.
The price for diesel at the gantry is $608, with an additional $70 surcharge payable either in naira at ₦1,650/$ or in USD. Jet fuel will be priced at $664.75, along with a $42 gantry surcharge and a $22 coastal surcharge. The prices for cooking gas at both the gantry and coastal locations are suspended.
This situation arises as marketers received regulatory approval to import 117,000 metric tonnes—equating to 156.897 million litres—of petrol over eight days, from April 8 to April 16, 2025, to enhance fuel supply across the nation.
Notably, the ongoing price decline corresponds with the resumption and full enforcement of the Naira-for-Crude agreement with local refiners after a previous halt.
With a 650,000 barrels per day capacity, the Dangote Refinery remains a vital player in Nigeria’s energy sector.
