Dangote Refinery Slashes Petrol Price to ₦774 per Litre in Strategic Market Move
Dangote Petroleum Refinery has announced a reduction in its ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦25 per litre, bringing the new rate down from ₦799 to ₦774 per litre. The adjustment, which took immediate effect, was communicated to petroleum marketers on Tuesday through a notice from the refinery's Group Commercial Operations Department. The statement read: “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre.” This latest price cut follows an earlier increase in early 2026, when the refinery raised its gantry price to ₦799 per litre after offering lower rates of ₦699 during the festive season. Industry analysts attribute the reduction to several factors, including improved operational efficiency at the 650,000 barrels-per-day facility, easing cost pressures, and intensifying competition in the downstream sector. The move is seen as a strategic effort by Dangote Refinery to strengthen the ...