The Dangote Petroleum Refinery has announced a reduction in the prices of petrol and diesel, offering some relief to the domestic fuel market.
According to the refinery’s latest pricing template released on March 10, 2026, the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, has been reduced by ₦100, bringing the price down to ₦1,075 per litre from the previous ₦1,175 per litre.
The refinery also stated that the price of petrol for coastal supply will now be ₦1,050 per litre, reflecting a slight adjustment due to maritime distribution costs.
Similarly, the price of Automotive Gas Oil (diesel) has been lowered significantly. The product will now sell at ₦1,430 per litre at the gantry, representing a ₦190 reduction from the earlier price of ₦1,620 per litre.
However, the refinery clarified that the gantry prices do not include regulatory charges imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The refinery management has consistently maintained that its pricing decisions are influenced by global crude oil prices, logistics costs, and operational realities, rather than arbitrary adjustments.
In a statement issued last week, the company explained that its pricing structure reflects Nigeria’s transition to a fully deregulated downstream petroleum market, where fuel prices are largely determined by international crude oil prices, foreign exchange rates, and supply dynamics.
The refinery also assured Nigerians that it would prioritise domestic fuel supply in order to shield the country from global supply disruptions amid the ongoing tensions linked to the Iran–United States conflict.
“The Dangote Refinery will ensure that Nigeria is insulated from these supply shocks by prioritising supply to the domestic market. This is one of the many benefits of domestic refining,” the company said.
According to the refinery, the conflict has pushed global crude and freight prices higher, with Brent crude rising by about 26 per cent to above $84 per barrel within a short period.
Despite the rising costs, the company said it absorbs about 20 per cent of the increased expenses in order to reduce the pressure on the Nigerian market.
