The Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for Premium Motor Spirit (PMS) to N1,200 per litre, in a move expected to significantly impact fuel pricing dynamics across Nigeria’s downstream sector.
The refinery also pegged its coastal price at N1,153 per litre, offering an alternative pricing structure for marine-based distribution channels, particularly in the southern parts of the country.
The company’s spokesperson, Anthony Chiejina, confirmed the development, noting that the adjustment reflects a downward review of the refinery’s pricing template amid ongoing volatility in the global oil market.
According to him, geopolitical tensions in the Middle East continue to influence crude oil prices and market stability, prompting strategic pricing decisions by major operators.
He explained that the new pricing structure is expected to reshape supply costs across the fuel distribution chain, including depots and retail outlets.
“With the reduction in gantry price to N1,200 per litre and coastal price to N1,153, the refinery has taken a step that will influence downstream pricing and distribution patterns,” he said.
Industry analysts believe the price cut could compel fuel marketers to reassess their landing costs, particularly those sourcing products locally instead of relying on imports.
The revised coastal price is also expected to improve access to fuel supplies via marine routes, providing flexibility for distributors operating along Nigeria’s coastal corridors.
The development comes at a time when stakeholders in the petroleum sector continue to monitor global oil trends and their implications for domestic fuel pricing.
More details are expected to emerge in the coming days as market players respond to the new pricing regime.