For Nigerian consumers, some relief may be emerging as Dangote Refinery cuts its “gantry premium” pricing on petrol and automotive gas oil. A spokesperson for the Dangote Group, Anthony Chijiena, confirmed the move in an interview on Saturday.
Chijiena said the 650,000 barrels-per-day facility lowered petrol to N1,250 per litre from N1,275, while also trimming diesel to N1,700 per litre from N1,800. “We have reduced our PMS price from N1275 to N1250 per litre and AGO from N1,800 to N1,700 per litre,” he stated.
On a dollar-to-naira basis, the large refinery—which the company describes as a $20 billion project—has cut petrol and diesel rates by N25 and N10 per litre, respectively. The price reductions are expected to filter into retail markets across the country, where petrol was trading at around N1,350 per litre and diesel at about N1,370 per litre, with diesel also reported at levels above N2,000 in some areas.
The decision comes as crude benchmarks ease. Brent crude and West Texas Intermediate each fell to roughly $91 and $87 per barrel, respectively, a change that can influence downstream fuel pricing and margins.
