Dangote refinery cuts petrol and diesel prices in fresh market slash

Dangote Petroleum Refinery has announced a nationwide reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel.

Under the new pricing schedule, effective Thursday, 6 August 2026, the 650,000-barrel-per-day facility in Lekki has reduced the wholesale price of petrol to ₦1,165 per litre, down from ₦1,215 per litre—a direct price drop of ₦50 per litre.

Simultaneously, the ex-depot price for diesel has been cut to ₦1,570 per litre, down from its previous baseline of ₦1,650 per litre, representing a margin reduction of ₦80 per litre.

The price revisions follow months of intensified competition among private depot operators and state-backed supply channels and maybe a reflection of the recent crude oil price dynamics resulting from the middle east war.

In an official statement issued on Wednesday, management at the Dangote Petroleum Refinery highlighted that the price cuts were driven by internal supply chain efficiencies aimed at mitigating wider inflationary pressures across the Nigerian economy.

“Under the new pricing structure, the refinery has reduced the ex-depot price of PMS to N1,165 per litre, down from N1,215 per litre, representing a reduction of N50 per litre,” the company stated.

“Similarly, the ex-depot price of Diesel has been reduced to N1,570 per litre from N1,650 per litre, amounting to a decrease of N80 per litre.”

The company stressed that the downward adjustment reflects its broader mandate to pass along operational savings directly to commercial buyers and end-consumers whenever global crude and local logistics conditions permit.

“The price review reflects Dangote Refinery’s ongoing efforts to enhance energy affordability, improve access to refined petroleum products, and support economic activities across Nigeria,” the refinery added.

“The company reaffirms its dedication to contributing to the growth of the Nigerian economy and passing on the benefits of improved operational efficiencies to consumers whenever market conditions permit.”