Dangote Petroleum Refinery has announced a fresh reduction in the ex-depot price of Premium Motor Spirit (PMS), cutting the cost by N75 per litre from N1,250 to N1,175 per litre.
The revised price became effective from Tuesday, June 16, 2026, according to a notification sent to fuel marketers and other customers of the refinery.
The company attributed the adjustment to recent improvements in the global energy market, driven largely by easing geopolitical tensions in the Middle East that have contributed to softer crude oil and fuel prices.
As part of the review, Dangote Refinery also reduced its coastal supply price by N100,575 per metric tonne, bringing the figure down from N1,595,790 to N1,495,215 per metric tonne.
The refinery stated that all pending gantry orders yet to be loaded would be invoiced at the newly approved rate.
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The latest price cut is expected to influence pricing across Nigeria’s downstream petroleum sector, with marketers and depot operators likely to review their rates in line with the lower ex-depot cost.
The adjustment follows a recent decline in international crude oil prices after concerns over possible disruptions to global oil supplies eased amid signs of improving diplomatic engagement in the Middle East.
Energy market watchers believe the development could eventually translate into lower pump prices if fuel distributors pass the savings on to consumers.
Analysts also noted that the move reinforces Dangote Refinery’s growing role in shaping fuel pricing trends in Nigeria, where the 650,000-barrels-per-day facility has become a key supplier to the domestic market.
With global oil prices showing signs of moderation, stakeholders say motorists and businesses could benefit from further reductions in fuel costs should favorable market conditions persist in the coming weeks.