Dangote refinery reduces petrol, diesel prices
Dangote refinery reduces petrol, diesel prices
Dangote Petroleum refinery has reduced its petrol and diesel prices by N100.
According to the latest pricing template from the refinery, issued on March 10, 2026, the price of petrol at the gantry has been reduced by ₦100, bringing it down to ₦1,075 per litre from the earlier price of ₦1,175 per litre.
The refinery has further stated that the price of PMS for coastal supply will now be set at ₦1,050 per litre, which accounts for a minor adjustment due to maritime distribution expenses.
In the same vein, the cost of Automotive Gas Oil (diesel) has been lowered to ₦1,430 per litre at the gantry. This marks a reduction of ₦190 from the previous price of ₦1,620 per litre.
The refinery pointed out that the prices at the gantry do not include fees from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The Dangote refinery management has repeatedly maintained that its pricing decisions, insisting that petrol prices must reflect prevailing global crude oil prices, logistics costs and operational realities.
According to a statement released last Thursday, the company noted that it does not arbitrarily determine prices but adjusts them based on international market movements and the cost of crude oil used for refining.
The refinery said its pricing strategy reflects Nigeria’s transition to a fully deregulated downstream petroleum market, where petrol prices are now largely influenced by global crude oil prices, foreign exchange rates and supply dynamics.
It also promised to ensure that Nigeria is insulated from global supply shocks by prioritising supply to the domestic market amid the ongoing US-Iran war.
“The Dangote Refinery will ensure that Nigeria is insulated from these supply shocks by prioritising supply to the domestic market. This is one of the many benefits of domestic refining.
“The conflict has driven global crude and freight prices sharply higher, with benchmark Brent prices rising by about 26 per cent within a short period to above $84.0 per barrel,” the statement read.
The company further revealed that it takes in about 20 percent of the rising costs in order to help ease pressure on the domestic market.
