Respite for Nigerians as the Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (petrol) by N75 per litre to N1,175 per litre from N1,250.
Also, the Dangote refinery’s coastal price per metric tonne has been reduced from N1,595,790 to N1,495,215.
The mega refinery disclosed this in a circular to fuel marketers on Monday. Consequently, the new price takes effect from Tuesday (today).
According to the refinery, the adjustment followed the de-escalation of the tension in the Middle East, which had impacted energy prices in the past three months.
“Following the de-escalation of tensions in the Middle East, which has impacted energy prices. We wish to inform you that we have reviewed our premium motor spirit gantry/coastal price,” the circular stated.
The refinery said the new rates will take effect from midnight.
“Kindly note that all outstanding unloaded gantry volumes will be repriced at the new rate effective 12:00 AM, June 16, 2026.
“We sincerely appreciate your continued patronage and assure you of our unwavering commitment to reliable product supply and excellent service delivery,” the circular noted.
This means that retail fuel prices are expected to drop significantly across Nigeria in the coming weeks from their current price of between N1317 and N1335 per litre in Abuja.
The development comes as Brent and West Texas Intermediate crude blends crashed drastically to $83 and 80 per barrel after United States President Donald Trump announced a peace deal with Iran.
