Nigeria’s largest privately owned refinery, Dangote Refinery, has announced a reduction in the prices of petrol and diesel, offering a measure of relief to marketers and consumers grappling with high fuel costs.
According to a new pricing template released by the refinery on March 10, 2026, the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, has been reduced by ₦100 per litre. The new price now stands at ₦1,075 per litre, down from the previous rate of ₦1,175 per litre.
The refinery also disclosed that petrol supplied through coastal distribution channels will be priced slightly lower at ₦1,050 per litre. Officials explained that the slight variation reflects adjustments associated with maritime transportation and distribution logistics.
In addition to the petrol price reduction, the refinery also announced a significant cut in the price of Automotive Gas Oil (AGO), widely known as diesel. The product will now be sold at ₦1,430 per litre at the gantry, representing a reduction of ₦190 from the earlier price of ₦1,620 per litre.
Industry observers say the latest price adjustments could influence fuel market dynamics across the country, particularly as independent marketers rely heavily on bulk purchases from domestic refiners and importers.
The refinery clarified that the newly announced gantry prices do not include statutory charges imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which regulates pricing components and operational activities within Nigeria’s midstream and downstream petroleum sectors.
Analysts believe the price reduction may help ease transportation costs and moderate inflationary pressures if marketers pass the savings on to retail consumers. However, the actual pump price across filling stations will depend on additional factors such as transportation, distribution margins, and regulatory fees.
