Dangote Petroleum Refinery & Petrochemicals has lowered its petrol prices, setting the gantry price for Premium Motor Spirit at N1,200 per litre and the coastal price at N1,153 per litre, a move that is likely to impact fuel costs across Nigeria’s downstream distribution network
Anthony Chiejina, spokesperson for the Dangote Group, explained that the price reduction reflects a downward revision in the refinery’s pricing structure amid ongoing geopolitical tensions in the Middle East, which continue to affect global oil markets.
“Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to N1,200 per litre and its coastal price to N1,153 per litre, a move that comes amid ongoing tensions in the Middle East that continue to influence global oil markets. The adjustment marks a downward review in the refinery’s pricing structure and is expected to influence fuel supply costs across distribution channels, including depots and retail outlets,” Chiejina said.
With the new N1,200 per litre gantry rate, marketers sourcing petrol locally are expected to recalculate their landing costs. Meanwhile, the coastal price of N1,153 per litre is anticipated to affect marine deliveries to coastal depots, offering distributors in southern corridors an alternative supply route.
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