Dangote Refinery Lowers Petrol Prices Amid Market Volatility
Dangote Refinery has announced a reduction in the gantry price of Premium Motor Spirit (petrol) by N49 per litre. The new price stands at N828 per litre, down from N877, reflecting a 5.6 per cent decrease. This adjustment comes as the market continues to experience fluctuations influenced by global oil trends.
According to recent data from Petroleumprice.ng, the price review became effective on Friday, marking the refinery’s second significant adjustment in three months. The move is aimed at responding to market conditions and efforts to stabilize domestic fuel supply.
A marketer confirmed the price cut to our correspondent on Friday, stating, “Dangote has reduced the gantry price from N877 per litre to N828 per litre.” This decision follows tightening fuel margins and rising operational costs that have kept pump prices high across several states.
The Major Energies Marketers Association of Nigeria (MEMAN) also confirmed the price reduction in its daily energy bulletin. As a result, findings by our correspondent revealed that in the parallel depot market, MRS Oil currently sells petrol at N870 per litre. However, other major depots are yet to adjust their prices to align with Dangote’s new benchmark.
Price Movements Across Key Petroleum Products
The MEMAN bulletin highlighted fresh price movements across key petroleum products. While petrol prices saw a marginal drop, diesel and aviation fuel recorded sharp increases.
After accounting for freight, insurance, port charges, and financing costs, the 30-day moving average price for petrol stood at N824.10 per litre, showing a slight decline. Spot market prices were pegged at N830.80 per litre for ASPAM and N830.82 per litre for NPSC–NOJ, both higher by N2 than the new gantry price at the refinery.
Petrol was sold at N815.14 per litre at coastal depots and N828.00 per litre at the Dangote Refinery gantry. In contrast, data showed that the refinery increased the price of diesel, which continues to rise across the country despite the reduction in petrol rates.
Diesel traded for N784.75 per metric tonne at coastal points and N950.00 per litre at the gantry, while aviation fuel sold for N815.50 per metric tonne at coastal points and N1,025.77 per litre at the gantry.
Liquefied Petroleum Gas remained stable at N15,000 per metric tonne ex-gantry, the only product showing price stability amid market volatility.
Impact on Diesel Prices and Market Trends
Prices of Automotive Gas Oil (diesel) across major depot hubs in Lagos, Warri, and Port Harcourt surged sharply following Dangote Refinery’s latest price adjustment to N950 per litre. This indicates renewed upward pressure on downstream fuel costs.
A market survey conducted by Petroleumprice.ng between November 5 and 6, 2025, showed that average depot diesel prices rose from N919 per litre last week to N983 nationwide, representing a 7 per cent week-on-week increase.
Olatide Jeremiah, the Chief Executive Officer of Petroleumprice.ng, stated that the price adjustment demonstrated the refinery’s commitment to ensuring the availability and affordability of petroleum products. He added, “This 5 per cent reduction from 877 to 828 is a welcome development as it will give confidence to Nigerians that the Refinery has the mandate to deliver Availability and affordability of petroleum products amid the 15 per cent tariff debate.”