Dangote Petroleum Refinery, Nigeria’s largest privately owned refinery,has reduced its ex-depot prices for Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), marking the first downward adjustment after a series of increases recorded in recent days.
According to the refinery’s latest pricing template released on March 10, the gantry price of petrol has been cut by N100 to N1,075 per litre, down from the previous N1,175 per litre.
The refinery also disclosed that PMS supplied through coastal distribution will now sell at N1,050 per litre, reflecting a marginal price differential for marine deliveries.
In addition, the gantry price of Automotive Gas Oil, commonly known as diesel, has been reduced to N1,430 per litre. This represents a N190 drop from the earlier price of N1,620 per litre.
The company noted that the quoted gantry prices exclude statutory charges imposed by the downstream regulator, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The latest adjustment comes amid a decline in global crude oil prices, which has begun easing cost pressures across international petroleum markets and influencing pricing trends in Nigeria’s downstream sector.
Industry analysts say the reduction could offer short-term relief for fuel marketers and bulk buyers who had been facing rapidly rising loading costs in recent days.
Market participants are now closely watching how quickly the revised ex-depot prices will filter through depot channels and translate into lower retail pump prices across the country.
