Dangote Petroleum Refinery & Petrochemicals has announced a reduction in petrol prices, setting the gantry price for Premium Motor Spirit at N1,200 per litre and the coastal price at N1,153 per litre. The move is expected to influence fuel costs throughout Nigeria’s downstream distribution network.
Anthony Chiejina, spokesperson for the Dangote Group, said the price adjustment reflects a downward revision in the refinery’s pricing framework amid ongoing geopolitical tensions in the Middle East that continue to impact global oil markets.
He explained, “The adjustment is expected to affect supply costs across all distribution channels, including depots and retail outlets.”
Under the new pricing, marketers sourcing petrol locally will need to recalibrate their landing costs. The coastal price of N1,153 per litre will also impact marine deliveries to coastal depots, providing distributors operating in southern regions with an alternative supply route.
