Fuel Price Cut: Dangote Reduces Gantry Rate By ₦25 Per Litre
By ESTHER McWILLIS-IKHIDE
DANGOTE Petroleum Refinery has reduced its ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦25 per litre.
The refinery announced on Tuesday that the price had been cut from ₦799 per litre to ₦774 per litre, with the new rate taking immediate effect nationwide. The adjustment was formally communicated to fuel marketers the same day.
In a statement confirming the development, the company said: “This is to notify you of a change in our PMS gantry price from ₦799 per litre to ₦774 per litre.”
The refinery noted that the price reduction further enhances the competitiveness of locally refined petroleum products, especially when compared with imported alternatives.
According to the statement, the current landing cost of imported PMS from Lome is estimated at about ₦793 per litre. This places Dangote Refinery’s new ex-depot price at ₦19 lower than the imported equivalent.
Industry analysts say the price cut could influence pump prices across the country if marketers fully reflect the reduction in retail outlets. The move is also seen as part of broader efforts to stabilise domestic fuel supply and reduce reliance on imports.
The adjustment comes amid ongoing fluctuations in global oil prices and exchange rates, which continue to shape fuel pricing dynamics in Nigeria.
