Dangote Refinery cuts petrol ex-gantry price to N1,175 per litre

Dangote Petroleum Refinery has lowered the ex-gantry price of premium motor spirit (PMS), commonly known as petrol, by N75 per litre, citing easing tensions in the Middle East and the resulting impact on global energy prices.

The refinery announced the price adjustment in a circular issued to oil marketers on Monday. The new pricing took effect on June 16, 2026.

According to the notice, the refinery reviewed its PMS gantry and coastal prices following the de-escalation of geopolitical tensions in the Middle East, which had previously contributed to higher energy costs.

“Following the de-escalation of tensions in the Middle East, which has impacted energy prices, we wish to inform you that we have reviewed our premium motor spirit gantry/coastal price,” the circular stated.

The company also noted that all outstanding unloaded gantry volumes would be repriced at the new rate from 12:00 a.m. on June 16, 2026.

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Under the revised pricing structure, the gantry price has been reduced to N1,175 per litre from N1,250 per litre. Similarly, the coastal price per metric tonne was cut from N1,595,790 to N1,495,215.

Dangote Refinery thanked customers for their continued support and reiterated its commitment to maintaining reliable product supply and quality service delivery.

The price reduction comes amid a decline in global crude oil prices. On Monday, crude prices fell to about $82 per barrel after the United States, Israel and Iran reportedly reached an agreement to end hostilities across the Middle East, including Lebanon, and reopen the Strait of Hormuz.

Brent crude, the international oil benchmark, dropped about 5 percent to $82.90 per barrel, while U.S. West Texas Intermediate (WTI) crude declined 4 percent to around $80 per barrel.