…Moves Expected to Influence Fuel Supply and Pricing Nationwide
The Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price of Premium Motor Spirit (petrol) to ₦1,200 per litre, in a development expected to impact fuel distribution and pricing across Nigeria.
The refinery also pegged its coastal price at ₦1,153 per litre, a move that is anticipated to affect supply routes and landing costs for marketers operating along coastal depots.
According to the spokesperson of the Dangote Group, Anthony Chiejina, the price adjustment represents a downward revision in the refinery’s pricing structure amid ongoing global oil market uncertainties driven by geopolitical tensions in the Middle East.
He explained that the new pricing is expected to influence fuel supply costs across the downstream sector, including depots and retail outlets, as marketers adjust their landing costs accordingly.
With the revised gantry price, fuel marketers are expected to recalibrate their pricing models, particularly those sourcing products locally instead of relying on imports. The coastal price is also expected to support marine deliveries to depots in southern parts of the country, providing alternative supply channels for distributors.
The development comes after a period of fluctuating petrol prices linked to global oil market dynamics. Industry observers note that the latest reduction may lead to a marginal drop in pump prices nationwide, though the final retail cost will depend on distribution and logistics factors.
The Dangote Refinery has played a significant role in Nigeria’s downstream petroleum sector since commencing operations, with its pricing decisions closely watched due to their influence on domestic fuel availability and market stability.