The Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for Premium Motor Spirit (PMS), also known as petrol, to N1,200 per litre, with its coastal price set at N1,153 per litre.
The development is expected to impact fuel supply costs across Nigeria’s downstream distribution chain.
Spokesperson of the Dangote Group, Anthony Chiejina, said the adjustment represents a downward review in the refinery’s pricing structure, coming amid continued volatility in the global oil market driven by geopolitical tensions in the Middle East.
According to him, the new pricing template is likely to influence costs across depots and retail outlets, particularly for marketers sourcing products locally rather than relying on imports.
With the revised gantry price, industry operators are expected to recalibrate their landing costs, while the coastal price is projected to affect marine deliveries to depots in southern parts of the country.
The price cut follows a series of increases recorded since the outbreak of the US-Iran conflict, which had pushed petrol prices from about N840 per litre to an average of N1,300.
The latest reduction from N1,275 to N1,200 per litre is expected to bring marginal relief to consumers, with pump prices likely to ease slightly below the N1,300 mark.
However, sources within the refinery indicate that operations continue to face constraints due to insufficient crude oil supply.
Data from the facility shows that while it requires approximately 19.77 million barrels of crude monthly to operate at full capacity, actual deliveries have fallen significantly short.
The refinery reportedly received 4.55 million barrels in October, 6.45 million in November, 4.30 million in December, 5.65 million in January, and 4.66 million in February. As of mid-March, only 3.6 million barrels had been supplied.
A senior official noted that under the Petroleum Industry Act, local refineries are expected to be prioritised in crude allocation before exports, raising concerns over continued supply shortfalls.
The refinery’s management had earlier disclosed that it currently receives only five cargoes of crude instead of the 13 cargoes agreed under the naira-for-crude arrangement.
