DANGOTE REFINERY LOWERS PETROL GANTRY PRICE TO N1,200 PER LITRE
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By Aishat Momoh. O.
Dangote Petroleum Refinery and Petrochemicals has reduced its gantry price for premium motor spirit (PMS), popularly known as petrol, to N1,200 per litre. The coastal price has also been pegged at N1,153 per litre, the company said in a statement on Friday.
The spokesperson for the Dangote Group, Anthony Chiejina, explained that the downward revision is expected to reshape fuel supply costs across Nigeria’s downstream distribution chain.
“This adjustment marks a downward review in the refinery’s pricing structure and is expected to influence supply costs across depots and retail outlets,” Chiejina said.
The new gantry price reflects a N75 reduction from the previous rate of N1,275 per litre. The refinery had earlier increased its petrol price from N1,175 per litre to N1,245 per litre.
Chiejina noted that lower ex-depot prices usually translate into reduced pump prices, potentially easing costs for marketers and consumers. He also highlighted that ongoing geopolitical tensions in the Middle East continue to influence global oil markets, affecting shipping, insurance, and supply chains.
“For Nigeria, large-scale local refining capacity provides some insulation from external shocks, even as global market pressures persist,” he added.
With the new pricing, marketers sourcing locally are expected to recalibrate landing costs, while the coastal price of N1,153 per litre is expected to affect marine deliveries to southern depots, offering an alternative supply route for distributors.
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