Dangote Petroleum Refinery has announced a reduction in the ex-gantry price of petrol, cutting the cost by N75 per litre.
The company disclosed the new pricing in a notice sent to oil marketers on Monday, stating that the adjustment took effect on June 16.
According to the refinery, the decision was influenced by easing tensions in the Middle East, which have contributed to lower energy prices globally.
“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 gantry/coastal price.
“Kindly note that all outstanding unloaded gantry volumes will be repriced at the new rate effective 12:00 AM, June 16, 2026,” the circular reads.
Under the revised pricing structure, the ex-gantry price of petrol has dropped from N1,250 to N1,175 per litre, while the coastal price per metric tonne was reduced from N1,595,790 to N1,495,215.
“We sincerely appreciate your continued patronage and assure you of our unwavering commitment to reliable product supply and excellent service delivery,” Dangote Refinery added.
The price adjustment came as global oil prices recorded a sharp decline on Monday after reports that the United States, Israel and Iran had agreed to end hostilities across the Middle East, including in Lebanon, and reopen the Strait of Hormuz.
As a result, international crude oil prices fell significantly. Brent crude, which serves as the global benchmark, declined by about 5 percent to trade at $82.90 per barrel.
Meanwhile, the United States’ West Texas Intermediate crude also dropped by around 4 percent, settling at approximately $80 per barrel.
KanyiDaily recalls that Dangote Refinery became the world’s top exporter of jet fuel in April, driven by increased production and disruptions in global supply caused by tensions in the Middle East.
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