Dangote Announces Fresh Petrol Price Reduction as Global Oil Market Cools

Dangote Petroleum Refinery has announced a fresh reduction in petrol prices following a decline in global crude oil prices.

Philips News reports that the Dangote Petroleum Refinery has announced a fresh reduction in the ex-depot price of Premium Motor Spirit (PMS), citing easing tensions in the Middle East and a decline in global crude oil prices.

According to a notice issued to customers, the refinery lowered its gantry loading price from ₦1,175 per litre to ₦1,125 per litre. The coastal supply price was also reduced from ₦1,495,215 per metric tonne to ₦1,428,165 per metric tonne, reflecting the latest adjustment in its pricing structure.

Dangote Refinery said the revised rates took effect from 12:00 a.m. on June 25, 2026, adding that all outstanding unloaded gantry volumes would be repriced in line with the new rates. The refinery noted that the move was driven by recent developments in the global energy market, which have led to a decline in crude oil prices.

The company said it was compelled to respond to what it described as an “ill-motivated web of falsehoods” despite its longstanding policy of not engaging with baseless allegations.

“As a matter of policy, we do not respond to baseless and unsubstantiated claims, given our current determination and focus in ensuring energy security in Nigeria and Africa as a whole. However, we have decided to clear the air on these ill motivated web of falsehoods for posterity,” the company said.

Meanwhile, PhilipsNews understands that the latest oil price adjustment is expected to exert further downward pressure on petrol prices across Nigeria’s downstream market as marketers align with the new refinery rates.