The Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for Premium Motor Spirit (petrol) to N1,200 per litre, while pegging its coastal price at N1,153 per litre, a development expected to reshape fuel supply costs across Nigeria’s downstream distribution chain. “Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to N1,200 per litre and its coastal price to N1,153 per litre, a move that comes amid ongoing tensions in the Middle East that continue to influence global oil markets. The PUNCH recalls that the Dangote refinery increased petrol prices several times since the US-Iran war started on February 28. A breakdown of the figures shows that the refinery is supposed to get about 19.77 million barrels of crude monthly but received 4.55 million barrels in October, 6.45 million barrels in November, 4.30 million barrels in December, 5.65 million barrels in January, and 4.66 million barrels in February. Similarly, the Managing Director of the Dangote refinery, David Bird, recently said the refinery only receives five cargoes of crude instead of the 13 cargoes agreed under the naira-for-crude deal.

Source: Punch March 27, 2026 20:10 UTC