Dangote Refinery has reduced the gantry price of Premium Motor Spirit (petrol) by N49, from N877 to N828 per litre, representing a 5.6% decrease. The new price took effect on Friday, according to market data.
This marks the refinery’s second price review in three months, reflecting its response to global oil market trends and efforts to stabilise local supply.
A fuel marketer confirmed the change, while the Major Energies Marketers Association of Nigeria (MEMAN) also listed the new rate in its daily bulletin. Some depots, however, are yet to align — with MRS Oil still selling petrol at N870 per litre.
Despite the petrol reduction, diesel and aviation fuel prices rose, trading at N950 and N1,025.77 per litre respectively at the refinery gantry. Liquefied Petroleum Gas (LPG) remained stable at N15,000 per metric tonne.
Market data showed the 30-day average price for petrol at N824.10 per litre, while spot prices hovered around N830 per litre, slightly above the new refinery rate.
A recent survey revealed diesel depot prices jumped from N919 to N983 per litre, a 7% week-on-week increase.
Energy analyst Olatide Jeremiah described the cut as a confidence-boosting move, saying it shows Dangote’s commitment to ensuring product affordability and availability amid the ongoing 15% power tariff debate.
