Energy: Why Dangote Refinery’s petrol price is reduced to N1,200/Litre –Official

*The Management of Dangote Petroleum Refinery and Petrochemicals Limited announce the latest price adjustment in the Refinery’s ex-depot pricing is expected to potentially ease product supply costs for marketers, and influence retail pump prices for energy consumers

Isola Moses | ConsumerConnect

Dangote Petroleum Refinery and Petrochemicals Limited, Lagos, Nigeria, have announced a fresh reduction of its gantry price for Premium Motor Spirit (PMS), also known as petrol, to N1,200 per litre.

The Refinery noted that a coastal price of N1,153 per litre, despite rising global crude oil prices driven by ongoing tensions in the Middle East.

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The Management of the oil-refining company, in a statement, Friday, March 27, 2026, said the downward adjustment in ex-depot pricing came at a time when global oil markets are experiencing upward pressure, with geopolitical instability continuing to impact supply chains, freight costs, and benchmark crude prices.

Dangote said the price adjustment represented a downward review in the refinery’s ex-depot pricing, and was expected to ripple across Nigeria’s downstream sector, potentially easing supply costs for marketers and influencing pump prices at retail outlets.

Lower ex-depot prices typically translate into reduced pump prices.

The Middle East crisis has introduced renewed uncertainty into global oil markets, affecting shipping routes, insurance premiums, and supply chains.

For Nigeria, the presence of large-scale local refining capacity is increasingly seen as a stabilising factor, offering some insulation from external shocks even as global market pressures persist, Dangote Refinery stated.