Dangote Refinery Slashes Petrol Price by N75, Sends New Rates to Customers

Dangote Refinery has reduced its fuel depot price by N75 per litre.

‎The information was confirmed in a circular issued 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.

The new price means the refinery is now selling Premium Motor Spirit at N1,175 per litre, representing a N75 reduction from N1,250 per litre, in a move widely expected by fuel marketers following recent declines in international crude oil prices.

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The new price takes effect by June 16, 2026, and the refinery also directs that all outstanding unloaded gantry volumes be repriced at the updated rate effective from that date.

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‎It added that the coastal price per metric tonne has been reduced from N1,595,790 to N1,495,215.

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‎Details of the circular reads thus;

‎“Kindly note that all outstanding unloaded gantry volumes will be repriced at the new rate effective 12:00 AM, June 16, 2026.

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‎“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 N1,240 on Monday.

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‎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