Dangote Refinery slashes PMS gantry price to ₦1,200 per litre, defying global oil volatility driven by Middle East tensions.
Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for Premium Motor Spirit (PMS), also known as petrol, to ₦1,200 per litre, marking a significant downward adjustment of up to ₦150 per litre.
The refinery also cut its coastal price to ₦1,153 per litre, reflecting a broader review of its pricing structure.
Prior to the reduction, gantry prices hovered between ₦1,300 and ₦1,350 per litre, making the latest adjustment one of the most notable price drops in recent weeks.
The move comes despite ongoing tensions in the Middle East, which have continued to exert upward pressure on global oil prices.
Industry observers say the reduction could influence fuel pricing across the downstream sector, particularly at depots and retail outlets, with potential implications for pump prices nationwide.
The development is also seen as a strategic effort to enhance competitiveness, ease supply costs, and consolidate market share in Nigeria’s evolving petroleum market.
Market stakeholders are expected to monitor how quickly the price adjustment translates to lower retail prices and broader consumer relief.
