Dangote Refinery Reduces Petrol Gantry Price to N835 Amid Falling Global Oil Prices

Aliko Dangote

Dangote Petroleum Refinery has announced a further reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, lowering the price from N865 to N835 per liter. This 3.5 percent decrease reflects the recent drop in global crude oil prices, which have fallen from over $70 to $64 per barrel in recent weeks.

The refinery had earlier adjusted its gantry price from N880 to N865 per liter; however, the expected reduction in pump prices was not implemented by oil marketers. This latest move by Dangote is intended to offer potential relief to consumers and aligns with broader efforts to stabilize fuel prices in Nigeria.

With a processing capacity of 650,000 barrels per day, the Dangote Refinery remains a critical asset in Nigeria’s energy sector. Its price adjustments are closely watched by stakeholders across the fuel supply chain, and the latest reduction could pressure marketers to align retail prices more closely with gantry rates.