Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (petrol) by ₦75 per litre
In a circular to fuel marketers on Monday, the refinery said the adjustment followed the de-escalation of the tension in the Middle East, which had impacted energy prices in the past three months.
“Following the de-escalation of tensions in the Middle East, which has impacted energy prices. We wish to inform you that we have reviewed our premium motor spirit gantry/coastal price,” the circular stated.
It added that the new gantry price is now ₦1,175 per litre, down from ₦1,250, while the coastal price per metric tonne has been reduced from ₦1,595,790 to ₦1,495,215.
The refinery said the new rates will take effect from midnight.
“Kindly note that all outstanding unloaded gantry volumes will be repriced at the new rate effective 12:00 AM, June 16, 2026.
“We sincerely appreciate your continued patronage and assure you of our unwavering commitment to reliable product supply and excellent service delivery,” the circular noted.
According to Petroleumprice.ng, the Dangote refinery is now the cheapest petrol, as many marketers sold it for around ₦1,240 on Monday.
The latest reduction comes amid easing tensions in the global oil market following reports of ongoing negotiations between the United States and Iran over the reopening of the Strait of Hormuz.
The PUNCH