Dangote Petroleum Refinery and Petrochemicals has announced a fresh N50 per litre reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, bringing the gantry price down to N1,075 per litre.
The latest adjustment marks the company’s fourth price cut within a single month. This brings the cumulative reduction to N200 per litre since May 30, 2026, as the refinery systematically transfers lower production costs to Nigerian consumers.
The ex-depot gantry price drops to N1,075 per litre, down from the previous pricing tier. A total reduction of N200 per litre has been recorded over the last 30 days.
Alongside petrol, the refinery has cut the price of Automotive Gas Oil (AGO/Diesel) by N300 per litre and Jet A1 aviation fuel by N520 per litre over the same period.
In a statement released on Thursday, the refinery explained that its phased price drops are the result of lower-priced crude cargoes progressively entering its production cycle.
The company noted that it has deliberately absorbed a significant portion of its feedstock costs to cushion Nigerians against international market volatility. While current global benchmarks hover around $71.01 per barrel, Dangote Refinery revealed it is still actively processing older, higher-priced crude inventories purchased at average landed costs of $124.80 per barrel in May and $95.25 per barrel in June.
”Today’s N50 per litre reduction is the fourth price cut in one month, bringing cumulative reductions to above N200 per litre on PMS. This approach ensures that pricing decisions are anchored on actual production economics and inventory costs rather than short-term fluctuations in international oil markets,” the company stated.
The refinery added that domestic production capacity is fully capable of meeting national demand, eliminating Nigeria’s historical dependence on fuel imports and conserving critical foreign exchange. Marketers and consumers are expected to see the downward adjustment reflect across filling stations nationwide as new volumes enter distribution channels.
