Breaking: Dangote Refinery cuts petrol price by N100 to N1,075 per litre, slashes diesel cost

The Dangote Refinery has announced a fresh reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, lowering the gantry price by N100 per litre in its latest pricing template issued on March 10, 2026.

According to the new pricing structure released by the refinery, the ex-depot price of petrol has been reduced from N1,175 per litre to N1,075 per litre, a move expected to provide some relief to marketers and potentially ease pump prices across the country.

The refinery also disclosed that the price of PMS supplied through coastal distribution channels has been fixed at N1,050 per litre. The slight adjustment in pricing, the company explained, reflects the additional logistics and maritime distribution costs associated with transporting products to coastal depots and terminals.

Industry observers say the price cut may influence retail petrol prices in the coming days as marketers adjust their pricing to reflect the reduced ex-depot cost.

In the same pricing update, the refinery announced a significant reduction in the cost of Automotive Gas Oil (AGO), commonly known as diesel, which now sells for N1,430 per litre at the gantry.

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This represents a N190 decrease from the previous price of N1,620 per litre, marking one of the most notable downward adjustments in recent months.

Market analysts believe the reduction could help lower transportation and industrial operating costs, as diesel is widely used in heavy-duty vehicles, generators, and manufacturing operations across Nigeria.

The refinery clarified that the listed gantry prices for both petrol and diesel do not include statutory fees charged by the regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

These regulatory charges are typically added to the final cost before the products reach marketers and retail outlets.

The adjustment in ex-depot prices comes at a time when Nigeria’s downstream petroleum sector continues to respond to changing global crude oil prices, foreign exchange pressures and evolving supply dynamics.

Industry stakeholders say the price reduction by the Dangote refinery could help moderate petrol pump prices if marketers pass on the cost savings to consumers.

Analysts also note that increased domestic refining capacity is gradually reshaping Nigeria’s fuel supply chain, reducing reliance on imported petroleum products and improving price stability in the local market.