Dangote Refinery has slashed petrol price again as crude oil prices fall and cut ex-depot rate to ₦1,125 per litre.
NewsOnline Nigeria reports that the Dangote Petroleum Refinery has announced another reduction in the price of Premium Motor Spirit (PMS), popularly known as petrol, following a decline in global crude oil prices and easing geopolitical tensions in the Middle East.
In a notice issued to customers on Wednesday, the refinery disclosed that it had reduced its ex-depot (gantry) loading price from ₦1,175 per litre to ₦1,125 per litre.
The company also lowered its coastal supply price from ₦1,495,215 per metric tonne to ₦1,428,165 per metric tonne as part of its latest pricing review.
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According to the refinery, the revised prices took effect from 12:00 a.m. on June 25, 2026. It added that all outstanding unloaded gantry volumes would be repriced in line with the new rates.
Dangote Refinery attributed the price reduction to recent developments in the international oil market, which have led to a drop in crude oil prices.
The company said the adjustment reflects prevailing market realities and its commitment to ensuring stable energy supply across Nigeria and Africa.
The refinery also addressed what it described as misleading reports circulating in some quarters, stating that it was compelled to clarify the situation despite its longstanding policy of avoiding responses to unsubstantiated claims.
“As a matter of policy, we do not respond to baseless and unsubstantiated claims, given our current determination and focus in ensuring energy security in Nigeria and Africa as a whole. However, we have decided to clear the air on these ill-motivated web of falsehoods for posterity,” the company stated.
Industry observers believe the latest reduction is likely to trigger further declines in retail petrol prices nationwide as marketers adjust their pump prices to reflect the refinery’s new ex-depot rates.
The development comes amid growing expectations that sustained moderation in global oil prices could provide relief for consumers and businesses grappling with high fuel costs.
