Dangote Petroleum Refinery has reduced its ex-gantry petrol price to N1,175 per litre, representing a N75 reduction from N1,250 per litre, following recent declines in international crude oil prices.
The new price takes effect from 12:00 a.m. on June 16, 2026. The refinery also directed that all outstanding unloaded gantry volumes be repriced at the updated rate from the effective date.
The refinery further reduced its coastal loading price by N100,575 per metric tonne, from N1,595,790 to N1,495,215, strengthening its competitive position in Nigeria’s downstream petroleum market.
According to a notice issued to customers, the adjustment followed the de-escalation of tensions in the Middle East, which had previously caused volatility in global energy prices.
The notice stated:
“All outstanding unloaded gantry volumes will be repriced at the new rate from the effective date.”
Private depot operators are expected to respond with further price reductions to remain competitive with Dangote Refinery’s revised rates. Some depot owners have already adjusted their prices.
Data obtained from Petroleumprice.ng showed that A.A. Rano, Aiteo, and Integrated Oil reduced their petrol prices to an average of N1,240 per litre on June 15, 2026.
The reduction in petrol prices is attributed to easing tensions in the Middle East, particularly negotiations between the United States and Iran over the Strait of Hormuz, which have contributed to a decline in global crude oil prices.
Market data showed that Brent crude fell by 0.59% to $82.68 per barrel, while WTI crude dropped by 0.42% to $80.41 per barrel.
Market sentiment improved after the LNG tanker Disha successfully transited the Strait of Hormuz on its way to India, signalling that energy flows from the Gulf may be gradually returning to normal.
Industry operators say the development could eventually lead to lower fuel prices nationwide if marketers pass the cost savings on to consumers.
