Dangote Petroleum Refinery has slashed the ex-depot price of its premium motor spirit (PMS), commonly known as petrol, by N50 per liter, reflecting a retreat in global crude benchmarks as geopolitical friction in the Middle East cools.
The refinery notified customers that its gantry loading price has been dropped from N1,175 per liter to N1,125 per liter, effective midnight on June 25, 2026. For maritime and wholesale distributions, the coastal supply price was adjusted downward from N1,495,215 per metric tonne to N1,428,165 per metric tonne.
The refinery confirmed that all outstanding, unloaded gantry volumes will be repriced at the new, lower rate.
The dynamic pricing shift follows a downward trajectory in global energy markets. International benchmark Brent crude slid 1.46% to $72.66 a barrel, while U.S. West Texas Intermediate (WTI) fell 1.25% to $69.46 a barrel. De-escalation of supply disruption fears in the Middle East has steadily depressed feedstock costs for refiners worldwide, presenting a window for sub-Saharan Africa’s new industrial hub to lower domestic retail pressure.
The refinery indicated that it “remains committed to maintaining reliable product supply and efficient service delivery as it continues to play a leading role in shaping pricing dynamics in Nigeria’s deregulated downstream petroleum market.”
For a market traditionally vulnerable to sudden price spikes, the reduction signals how domestic refining capacity can pass structural market savings directly to consumer-facing marketers when global energy inputs retreat.
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