Dangote Petroleum Refinery reduces petrol price
11th March 2026
The Dangote Petroleum Refinery has reduced its ex-gantry price of petrol to N1,075 per litre, marking the first downward adjustment after three consecutive increases that had significantly raised fuel costs in recent weeks.
According to the refinery’s latest pricing template released on Tuesday, the new price represents a N100 reduction from the previous rate of N1,175 per litre.
The company also announced that petrol distributed through coastal supply channels will now sell at N1,050 per litre.
Diesel prices have also been revised downward. The refinery reduced the price to N1,430 per litre, reflecting a N190 drop from the earlier price of N1,620 per litre. The adjustment is expected to provide some relief to consumers and businesses that depend heavily on the fuel.
The refinery clarified that the quoted gantry prices do not include statutory charges imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
The price reduction follows a period of sharp increases. On Monday, the refinery raised petrol prices to N1,175 per litre, up from N995 per litre on March 7 and N874 per litre on March 2. Those increases were largely driven by a surge in global crude oil prices linked to tensions involving the United States, Iran, and Israel.
Tuesday’s price cut coincided with a decline in global oil markets, with crude prices easing to about $90 per barrel, the first drop since the Middle East conflict escalated. The dip in prices has given the refinery room to pass on some savings to consumers.
Earlier, the refinery’s Chief Executive Officer, David Bird, explained that the refinery is not shielded from global oil price fluctuations because it sources crude oil based on international market benchmarks.
His remarks suggested that fuel prices from the refinery will continue to reflect movements in the global energy market.