Dangote Petroleum Refinery & Petrochemicals has announced a fresh reduction in the ex-depot price of Premium Motor Spirit (PMS), lowering its gantry price to N1,200 per litre, with a coastal price of N1,153 per litre, even as global crude oil prices continue to trend upward.
According to the company’s Price alert, price of petrol at the gantry is now N1,200 per litre, with a coastal price of N1,153 per litre. The price adjustment comes against the backdrop of renewed volatility in international oil markets, driven largely by escalating geopolitical tensions in the Middle East, which have disrupted supply chains, increased freight costs, and pushed benchmark crude prices higher.
Despite these external pressures, the refinery’s decision signals an effort to moderate the impact of rising global energy costs on the domestic market. Industry observers say the move could provide some relief to fuel marketers by reducing their landing and procurement costs, with the potential to influence a downward adjustment in retail pump prices nationwide.
The revised pricing reflects a notable shift in the refinery’s ex-depot strategy, reinforcing its growing role in Nigeria’s downstream petroleum sector. Analysts note that lower gantry prices typically cascade through the supply chain, affecting distribution margins and ultimately retail pricing at filling stations.
The development also underscores the strategic importance of domestic refining capacity at a time when global supply disruptions are becoming more frequent. The ongoing Middle East crisis has heightened uncertainty across the oil market, affecting shipping routes, insurance premiums, and the overall cost of moving petroleum products across regions.
For Nigeria, the operational scale of the Dangote Refinery is increasingly seen as a buffer against such external shocks. By reducing reliance on imported refined products, the facility is helping to stabilise supply dynamics and offering a degree of insulation from fluctuations in the global oil market.
Market watchers will, however, be monitoring how quickly and effectively the price adjustment translates to pump prices, as well as the response of independent marketers and other downstream players in the coming days.
