Dangote cuts petrol price to N1,125/litre as crude oil falls

The Dangote Petroleum Refinery has reduced its ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, by N50 per litre, citing easing tensions in the Middle East and the resulting decline in global crude oil prices.

In a notice issued to customers, the refinery announced that its gantry loading price had been reduced from N1,175 per litre to N1,125 per litre, while the coastal supply price was cut from N1,495,215 per metric tonne to N1,428,165 per metric tonne.

According to the refinery, the revised prices took effect from 12:00 a.m. on June 25, 2026, with all outstanding unloaded gantry volumes to be repriced at the new rate.

The latest reduction comes as international oil prices continue to retreat following the de-escalation of geopolitical tensions in the Middle East, easing concerns over potential supply disruptions.

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As of 12:11 p.m. (WAT), Brent crude, the global benchmark, had fallen 1.46 percent to $72.66 per barrel, while US West Texas Intermediate (WTI) crude declined 1.25 percent to $69.46 per barrel.

The decline in crude prices has reduced feedstock costs for refiners, creating room for lower domestic fuel prices.

The refinery said 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.