Dangote Refinery Slashes Petrol Price by 75 Naira Per Liter

Dangote Petroleum Refinery has announced a significant price reduction for its Premium Motor Spirit (petrol), cutting the gantry price by 75 naira per liter. The new price stands at 1,175 naira per liter, down from 1,250 naira, effective from midnight on June 16, 2026.

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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 refinery cited the de-escalation of tensions in the Middle East as the primary reason for this adjustment. Global energy prices had surged over the past three months due to these geopolitical events, directly impacting fuel costs. The circular to fuel marketers noted that the refinery reviewed its prices following the easing of these tensions.

This move positions Dangote's petrol as the cheapest available, with many marketers selling at around 1,240 naira per liter on Monday. The reduction is linked to reports of ongoing negotiations between the United States and Iran concerning the reopening of the Strait of Hormuz. Oil prices, which had previously climbed above $120 per barrel during the conflict, have begun to retreat.

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Kindly note that all outstanding unloaded gantry volumes will be repriced at the new rate effective 12:00 AM, June 16, 2026.

The Nigerian market experienced substantial price increases during the conflict, with petrol rising from approximately 830 naira to around 1,300 naira per liter. Diesel and aviation fuel also saw significant hikes. The Dangote refinery's adjustment is anticipated to bring further relief to domestic fuel prices as crude oil prices continue their downward trend.

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We sincerely appreciate your continued patronage and assure you of our unwavering commitment to reliable product supply and excellent service delivery.