The Dangote Petroleum Refinery has reduced the price of Premium Motor Spirit (petrol) to ₦1,200 per litre at the gantry, marking a fresh downward adjustment in its pricing structure.
The new rate reflects a drop from the previous price of about ₦1,275 per litre, indicating a reduction of roughly ₦75. The refinery also set its coastal price at ₦1,153 per litre, aimed at supporting marine distribution channels.
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According to the company, the price cut is influenced by current global oil market conditions, including ongoing geopolitical tensions that continue to affect crude oil prices. The adjustment is expected to impact fuel supply costs across Nigeria’s downstream sector, including depots and retail outlets.
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Industry stakeholders say the development could encourage marketers to source fuel locally instead of relying on imports, as the new pricing may offer better margins. It is also likely to trigger a review of pricing strategies among distributors and retailers nationwide.
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Experts believe the reduction could eventually translate into lower pump prices for consumers if marketers pass on the cost savings. However, the extent of this impact will depend on distribution expenses and other market factors.
The move comes amid continued volatility in the global oil market, with shifts in supply and demand influencing fuel pricing decisions. Overall, the refinery’s latest adjustment signals ongoing efforts to remain competitive while reshaping Nigeria’s fuel supply dynamics.
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