Dangote Refinery Reduces Petrol Gantry Price To N1,200 Per Litre

Dangote Petroleum Refinery has reduced its gantry (ex-depot) price of Premium Motor Spirit (PMS), also known as petrol, to N1,200 per litre.

The new price represents a reduction from the previous rate of about N1,275 per litre, reflecting a downward adjustment in the refinery’s pricing structure. (TheCable)

Price Reduction Confirmed

According to statements from the refinery, the gantry price has now been fixed at N1,200 per litre, while the coastal price was also reduced to N1,153 per litre. (Premium Times Nigeria)

The adjustment marks a drop of approximately N75 per litre, signalling a shift in pricing after recent increases recorded earlier in March. (TheCable)

Reason Behind The Adjustment

The refinery linked the price change to developments in the global oil market, particularly ongoing geopolitical tensions in the Middle East affecting crude oil supply and pricing. (Vanguard News)

These global factors continue to influence production costs and pricing decisions across the petroleum industry.

Expected Impact On Fuel Market

Industry observers say the reduction could:

• Influence fuel prices across depots and retail outlets
• Encourage marketers to source products locally
• Potentially affect pump prices if the reduction is passed on to consumers

The move is also expected to impact distribution channels nationwide, especially for depot owners and independent marketers. (The Nation Newspaper)