Dangote Refinery Reduces Price Of Petrol By ₦75

Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit, also known as petrol, by ₦75 per litre.

Naija News reports that the refinery announced the reduction in a circular issued to fuel marketers on Monday.

According to the circular, the adjustment followed the de-escalation of tension in the Middle East, which had affected energy prices in the past three months.

The refinery said the new gantry price had been reduced from ₦1,250 to ₦1,175 per litre.

It added that the coastal price per metric tonne had also been reduced from ₦1,595,790 to ₦1,495,215.

“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.

The refinery said the new rates would take effect from midnight.

“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 added.

Marketers Sell Higher

According to Petroleumprice.ng, Dangote refinery petrol is now the cheapest in the market, as many marketers sold petrol for around ₦1,240 per litre on Monday.

The latest reduction comes amid easing pressure in the global oil market following reports of ongoing negotiations between the United States and Iran over the reopening of the Strait of Hormuz.

Oil prices had surged to about $83 per barrel on Monday after a deal was reportedly signed.

Crude oil, the major feedstock for fuel production, had risen sharply since the outbreak of hostilities between the United States and Iran on February 28.

During the three-month conflict, crude prices climbed above $120 per barrel, triggering higher fuel prices.

In Nigeria, petrol prices rose from about ₦830 per litre to around ₦1,300 per litre during the period.

Diesel and aviation fuel prices also recorded significant increases. With crude prices now retreating, Dangote Refinery’s price adjustment is expected to bring further relief to domestic fuel prices.