Dangote Petroleum Refinery and Petrochemicals has announced a significant reduction in the ex-depot prices of Premium Motor Spirit (PMS/petrol) and Automotive Gas Oil (AGO/diesel), offering immediate relief to Nigerian motorists and businesses amid recent global oil market volatility.
In a new pricing template released on Monday, March 10, 2026, the refinery lowered: Petrol (PMS) gantry price by ₦100 to ₦1,075 per litre (down from ₦1,175/litre). Coastal supply PMS price to ₦1,050 per litre (reflecting lower maritime distribution costs). Diesel (AGO) gantry price by ₦190 to ₦1,430 per litre (down from ₦1,620/litre).
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The refinery emphasised that these gantry prices exclude additional regulatory charges from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), as well as logistics, taxes, and marketers’ margins. Retail pump prices at filling stations are therefore expected to fall accordingly in the coming days, depending on individual operators’ pricing strategies.
The reductions reverse the refinery’s fourth consecutive upward adjustment announced just days earlier (also on March 10), when petrol was raised to ₦1,175/litre an ₦180 (18.1%) increase from the previous ₦995/litre level. That hike was driven by a sharp spike in international crude benchmarks (Brent briefly above $102/barrel) following escalation in the Middle East conflict.
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The swift downward revision is attributed to a correction in global crude prices on Tuesday (Brent fell 8.45% to $90/barrel, WTI dropped 8.58% to $86.77/barrel), easing fears of prolonged supply disruptions in the Gulf.
Dangote Petroleum Refinery has not yet issued a detailed public statement explaining the rapid reversal, but industry sources attribute it directly to the sharp decline in international crude prices.
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DDNewsOnline – Lagos
By Ogungbayi Beedee Adeyemi
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