In a major development for Nigeria’s energy sector, the Dangote Petroleum Refinery has announced a reduction of ₦75 per litre in the gantry and coastal price of Premium Motor Spirit (PMS), popularly known as petrol. The price adjustment was communicated directly to fuel marketers in an official circular issued on Monday.
According to the refinery management, the price cut is a direct response to a shift in the global oil market following the easing of geopolitical frictions. “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.
For the past three months, escalating tensions in the Middle East had kept global energy markets on edge, driving up crude oil prices and subsequently inflating the cost of refined petroleum products. As these international pressures begin to cool, the Dangote Refinery has moved quickly to pass the cost savings down the supply chain.
While the ₦75 reduction applies strictly to the gantry and coastal price, the wholesale rate at which marketers buy directly from the refinery. Industry experts anticipate that this drop will soon trickle down to retail fuel stations across the country.
Fuel marketers are expected to adjust their loading patterns immediately to take advantage of the new rates. Depending on logistics, transport, and regional distribution costs, consumers can look forward to some much-needed relief at the pump in the coming days.
This price slash marks one of the first major market-driven reductions by the multi-billion-dollar refinery since it commenced domestic petrol distribution, highlighting its growing influence on Nigeria’s energy pricing and security.
