Dangote Petroleum Refinery has cut its ex-depot prices for Premium Motor Spirit (PMS) from N1,175 to N1,075 per litre in response to the 12.26% decline in crude oil prices, which are currently at $83.15 per barrel. Additionally, the price of Automotive Gas Oil (AGO) diesel was lowered, making it the first review that went downward following a number of recent dramatic hikes. In the same vein, some private depots were said to have dropped their prices from N1,200 to N1,070 per litre.
The minimum price of gasoline has been lowered by N100 to N1,075 per litre from N1,175 per litre, according to the Dangote Refinery's most recent pricing template, which was published on March 10, 2026.
Additionally, the refinery said that PMS delivered by coastal distribution will henceforth be sold for N1,050 per litre, which represents a slight pricing difference for maritime delivery. Also, the gantry price of diesel, also known as automotive gas oil, has dropped from N1,620 per litre to N1,430 per litre, a decrease of N190.
The business stated that statutory fees levied by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) are not included in the advertised gantry pricing. The price change coincided with a recent drop in the price of crude oil worldwide, which has begun to reduce cost pressures in the global petroleum market and is impacting downstream pricing trends.
According to industry observers, marketers and bulk buyers who had been struggling with the sharp increase in loading prices in recent days may find some short-term respite from the reduction. Now, market players are keeping a close eye on how quickly lower retail pump prices across the country would result from the revised ex-depot pricing cascading via depot channels.
Yesterday, the Nigerian National Petroleum Company Limited (NNPCL) sold the product for N1,261 per litre. It was marketed for N1,400 per litre by Energy Empire, N1,230 per litre by Gegu, and N1,330 by Rain Oil.
