Dangote Petroleum Refinery & Petrochemicals has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), marking the fourth price cut within a month.
In a statement released on Thursday, the refinery said it remains committed to transferring the benefits of lower production costs to consumers, despite still refining crude oil acquired at much higher international prices.
The latest adjustment reduces the ex-depot price of PMS by N50 per litre, bringing the total reduction since May 30, 2026, to N200 per litre. The refinery’s gantry price now stands at N1,075 per litre.
Within the same period, the company also lowered the ex-depot price of Automotive Gas Oil (AGO) by N300 per litre and Jet A1 aviation fuel by N520 per litre.
According to the refinery’s official statement and cargo records, it processed crude purchased at an average of $124.80 per barrel in May and $95.25 per barrel in June. The company explained that the gradual price reductions reflect the replacement of higher-cost crude inventories with lower-cost supplies.
The refinery said the latest move reflects its determination to pass operational efficiencies on to Nigerian consumers while supporting stability in the country’s domestic refining sector despite fluctuations in the global oil market and previously elevated feedstock costs.
“Dangote Refinery’s successive reductions demonstrate its commitment to ensuring Nigerians benefit from favourable market developments while maintaining the long-term sustainability of domestic refining operations,” the statement added.
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