Despite a downward adjustment in the gantry price of petrol by Dangote Petroleum Refinery, petroleum product marketers have continued to dispense the product to motorists and other users at the same prices as before.
The refinery announced that it has slashed the gantry price of Premium Motor Spirit (PMS) by N75 per litre, from N1, 250 to N1, 175 per litre, hopes were high that Nigerians would immediately feel the impact at the pump.
The refinery attributed the reduction to the de-escalation of geopolitical tensions in the Middle East and a significant decline in global crude oil prices.
The refinery also reduced its coastal loading price by N100,575 per metric tonne, lowering it from N1,595,790 to N1,495,215.
According to the communication, all outstanding unloaded gantry volumes will be repriced at the new rate from the effective date.
The latest adjustment is expected to trigger fresh competition across Nigeria’s downstream market, with private depot operators likely to respond with further price reductions in the coming days
With crude oil prices retreating and market sentiment improving, analysts expect further downward adjustments across petrol and diesel prices if global energy markets remain stable in the coming weeks.
In a notice issued to customers, the refinery said, “Following the de-escalation of tensions in the Middle East, which has impacted energy prices, we wish to inform you that we have reviewed our Premium Motor Spirit (PMS) gantry/coastal price.”
With the new price taking effect from midnight on June 16, 2026, LEADERSHIP team conducted a market survey on the morning of June 16 to see if independent and major marketers had adjusted their pump prices.
Our correspondent, who visited three stations along the Corridors of Lagos and Ogun State Expressway corridors to assess the situation for petrol, diesel, and other products, observed a gap between the gantry promises and the retail reality.
At MRS Filling Station, Mowe, Ogun State a brand known for its alignment with Dangote’s pricing as of 3:55pm the digital display board showed petrol selling for N1, 265 per litre. This represents a modest drop from the N1,286 per litre observed in early June, confirming a partial pass-through of the refinery’s cut.
The station manager, who spoke on condition of anonymity, confirmed the downward adjustment. “We just received the new price list from the depot this morning,” he said. “The price of diesel also came down from N1, 800 to about N1, 750 per litre.” While welcome, the N21 reduction here falls far short of the N75 announced by Dangote, leaving consumers to wonder where the remaining N54 has disappeared.
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