The Dangote Petroleum Refinery has reduced its ex-depot price of Premium Motor Spirit (PMS) by ₦50 per litre, citing the de-escalation of tensions in the Middle East and the resulting decline in global energy prices.
A notice issued to customers showed that the gantry loading price was cut from ₦1,175 per litre to ₦1,125 per litre, while the coastal supply price dropped from ₦1,495,215 per metric tonne to ₦1,428,165 per metric tonne.
The refinery said the revised prices took effect from 12:00 a.m. on June 25, 2026, adding that all outstanding unloaded gantry volumes would be repriced at the new rate.
The price reduction comes as international crude oil benchmarks continue to weaken. As at the time of writing of 7:45 a.m. (WAT), Brent crude fell 1.67% to $72.51 per barrel while West Texas Intermediate (WTI) crude was trading at $69.41 per barrel, down 1.32% reflecting easing concerns over supply disruptions in the Middle East.
The latest adjustment is expected to exert further downward pressure on petrol prices across Nigeria's downstream market as marketers align with the new refinery rates.
Dangote Refinery said it remains committed to ensuring reliable product supply and efficient service delivery to customers.