JUST IN: Dangote crashes petrol price by N100 as crude oil dips by 12.26 percent
..as NNPCL sells PMS at N1,261/l in FCT As the price of crude oil crashed 12.26 per cent to $83.15 per barrel yesterday, Dangote Petroleum Refinery reduced its ex-depot prices
..as NNPCL sells PMS at N1,261/l in FCT
As the price of crude oil crashed 12.26 per cent to $83.15 per barrel yesterday, Dangote Petroleum Refinery reduced its ex-depot prices for Premium Motor Spirit (PMS) petrol price to N1,075 from N1,175 per litre.
It also adjusted the rate of the Automotive Gas Oil (AGO) diesel marking the first downward review after several sharp increases recorded in the last few days.
Similarly, The Nation learnt that some of the private depots crashed their price to N1,070 from the N1,200/litre of the previous day.
According to the Dangote Refinery’s latest pricing template released on March 10, 2026, the gantry price of petrol has been cut by N100 to N1,075 per litre, down from N1,175 per litre previously.
The refinery also disclosed that PMS supplied through coastal distribution will now sell at N1,050 per litre, reflecting a marginal price differential for marine deliveries.
In addition, the gantry price of Automotive Gas Oil, commonly known as diesel, has been reduced to N1,430 per litre, representing a N190 drop from the earlier price of N1,620 per litre.
The company noted that the quoted gantry prices exclude statutory charges imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
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The price adjustment came amid a recent decline in global crude oil prices, which has started to ease cost pressures across the international petroleum market and is influencing pricing trends in the downstream sector.
Industry analysts said the reduction could provide short-term relief for marketers and bulk buyers who had been grappling with rapidly rising loading costs in recent days.
Market participants are now watching closely to see how quickly the revised ex-depot prices will cascade through depot channels and translate into lower retail pump prices nationwide.
Meanwhile, the Nigerian National Petroleum Company Limited (NNPCL) vended the product for N1,261 per litre yesterday.
The Energy Empire sold it for N1,400 per litre, Gegu vended it for N1,230 per litre as Rain oil sold it for N1,330.
