May 30, 2026
Dangote Petroleum Refinery has lowered its petrol gantry price to ₦1,250 per litre from the earlier rate of ₦1,275 per litre, a development that had been widely anticipated by traders in Nigeria’s downstream market.
A source at the refinery confirmed the revised pricing to Petroleumprice.ng. The adjustment, announced late Friday, aligns with market expectations as traders had largely paused purchases, awaiting a potential price revision from the refinery. This new price is likely to prompt immediate shifts across private depots and marketing channels following a period of cautious trading activity fueled by speculation about a price cut.
Market observations by Petroleumprice.ng reveal that depot prices had already begun to reflect the changing supply trends. Aiteo and Nipco were selling petrol at ₦1,272 per litre, while Integrated, Ascon, and African Terminal were trading at around ₦1,274 per litre, all below Dangote’s previous gantry price of ₦1,275 per litre.
Global crude oil prices have softened, prompting a reduction in rates. As of 06:14 a.m. (WAT), Brent crude was priced at $91.12 per barrel, down 1.70 percent, while US West Texas Intermediate crude stood at $87.36 per barrel, representing a 1.73 percent drop.
This dip in oil prices has heightened market expectations for more affordable refined products, leading many marketers to hold off on purchases throughout the week to avoid paying elevated rates.
According to industry experts, the latest price cut could influence depot pricing trends over the next few days and, if the decline persists, potentially reduce costs in downstream supply operations.
Additionally, this move highlights the increasing prominence of Dangote Refinery in Nigeria’s petroleum sector. Its pricing strategies are playing a key role in shaping trader behavior, depot logistics, and short-term supply dynamics across the market.
Culled from petroleumprice.ng
