The Dangote refinery has reduced fuel prices yet again, making it the fourth reduction within a month as crude oil prices eased.
According to Dailypost, a statement it received on Thursday disclosed details of the latest price drop. Meanwhile, this recent reduction brings the gantry price of petrol to N1,075 per litre from N1,250.
This means that the mega refinery dropped its petrol by N50 per litre to a cumulative N200 per litre since May 30, 2026.
Similarly, the Dangote Refinery reduced the ex-depot price of Automotive Gas Oil (AGO) by N300 per litre and Jet A1 aviation fuel by N520 per litre.
The petroleum giant noted that the successive reductions is evidence of its commitment to ensuring Nigerians benefit from favourable market developments while also upholding the long-term sustainability of domestic refining operations.
The refinery said it is currently supplying petroleum products refined from crude oil inventories purchased when global crude prices were significantly higher.
“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,” it said. “Nigeria Today benefits from the stabilising role of domestic refining capacity.
The Dangote Petroleum Refinery currently supplies volumes sufficient to meet national demand, helping to strengthen energy security, eliminate dependence on imports, conserve foreign exchange and provide greater price stability for consumers and businesses,” Dangote Refinery stated.
Also Read: Dangote Refinery cuts down jet fuel price
Dangote Refinery Announces N75 Reduction
Barely two weeks ago, in mid June, the Dangote Petroleum Refinery announced a fresh reduction in the gantry price of Premium Motor Spirit (petrol) by N75 per litre.
In a circular to fuel marketers on prior, the refinery clarified that the adjustment followed the de-escalation of the Middle East crisis, which had impacted energy prices in the past three months.
The circular states, “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.”
Additionally, it also stated that the coastal price per metric tonne has dropped from N1,595,790 to N1,495,215, and the new gantry price is now N1,175 per litre, down from N1,250.
Also Read: Petrol Marketers Warns Nationwide Shutdown
Backstory…
Since commencing commercial fuel distribution, the 650,000-barrel-per-day refinery has implemented several price adjustments in response to movements in global crude oil prices, exchange rate fluctuations and changing production costs.
The repeated cuts have intensified competition among petroleum marketers and importers, with many operators forced to review their pump prices to remain competitive.
