Fuel marketers across Nigeria have been informed of a fresh reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, by Dangote Petroleum Refinery.
The price cut comes amid improving conditions in the international oil market, with crude prices easing following a reduction in geopolitical tensions that had previously disrupted global energy supplies.
In a circular issued to customers on Monday, the refinery announced that the gantry price of petrol has been reduced from N1,250 per litre to N1,175 per litre.
The refinery also adjusted its coastal price benchmark downward, slashing it from N1,595,790 per metric tonne to N1,495,215 per metric tonne.
According to the notice, the revised prices took effect from midnight, while all petrol volumes yet to be lifted at the gantry would automatically be repriced from 12:00 a.m. on June 16, 2026.
Dangote Refinery said the adjustment reflects recent stability in global energy markets and reaffirmed its commitment to ensuring steady supply and efficient distribution to marketers nationwide.
Meanwhile, market intelligence platform Petroleumprice.ng reports that Dangote Refinery remains one of the most competitive suppliers in the market, with petrol currently selling for about N1,240 per litre at several retail outlets.
