The Dangote Petroleum Refinery & Petrochemicals has announced a fresh reduction in the ex-depot prices of Premium Motor Spirit (PMS), popularly known as petrol, and Automotive Gas Oil (AGO), commonly known as diesel, in a move expected to provide some relief to marketers and consumers.
According to the refinery, the ex-depot price of diesel has been reduced by ₦100 per litre, bringing the new gantry price to ₦1,700 per litre from ₦1,800 per litre, effective May 27, 2026. The adjustment follows recent fluctuations in domestic and international petroleum markets.
The refinery has also implemented reductions in the price of PMS, continuing a series of price adjustments aimed at aligning domestic fuel prices with prevailing market conditions and changes in crude oil prices. Previous reductions saw petrol prices cut significantly as global crude oil prices eased.
Industry analysts say the latest price cuts could help reduce distribution costs for marketers and may eventually translate into lower pump prices at filling stations if the reductions are fully passed on to consumers. However, the extent of any retail price reduction will depend on transportation costs, dealer margins, and other regulatory charges.
The refinery has maintained that its pricing decisions are influenced by international crude oil trends, foreign exchange dynamics, and its commitment to ensuring a stable supply of petroleum products within Nigeria.
The latest adjustment is expected to be closely monitored by oil marketers, transport operators, manufacturers, and consumers, many of whom have faced rising operational costs amid fluctuations in fuel prices.
Energy experts note that sustained reductions in ex-depot prices could ease inflationary pressures, particularly in transportation and logistics, sectors that are heavily dependent on diesel and petrol.
As the downstream petroleum market continues to evolve under deregulation, stakeholders will be watching to see whether the refinery’s latest price cuts trigger broader reductions across depots and retail outlets nationwide.
