Dangote Refinery Cuts Petrol Gantry Price by ₦75 to ₦1,175 per Litre

Dangote Refinery has reduced its petrol gantry price by ₦75 per litre, bringing the ex-depot price of premium motor spirit to ₦1,175 per litre.

Punch reported that the adjustment was made early Tuesday and applies to marketers buying directly from the refinery’s gantry arrangement.

THISDAY also reported the price cut, describing it as a move that could offer some relief to marketers and consumers after recent pressure in the downstream fuel market.

The new price is lower than the roughly ₦1,250 per litre level marketers had been paying in recent weeks, according to the reports.

The reduction comes as global crude prices eased following the latest truce signals in the United States and Iran dispute, a market shift that has affected energy-cost expectations.

Fuel pricing remains closely watched in Nigeria because changes at the refinery and depot level can filter into pump prices, transport costs and household spending.

Dangote Refinery has become a central player in the local petrol supply chain, and its pricing decisions are now watched by independent marketers, depot owners and consumers.

The latest cut does not automatically fix retail prices nationwide, but it gives marketers a lower reference point as the market adjusts to supply, crude-price and exchange-rate conditions.

Any wider reduction at filling stations will depend on transport costs, dealer margins and how quickly marketers reflect the new gantry price in their retail networks.

For now, the development gives the downstream market a fresh price signal from the refinery and gives consumers reason to watch for possible pump-price changes.

Sources: Punch, THISDAY