The Dangote Petroleum Refinery has reduced its petrol gantry price from ₦1,275 per litre to ₦1,250 per litre, a move expected to have significant implications for Nigeria’s downstream petroleum market.

The latest price adjustment, confirmed on Friday by a refinery source, follows widespread anticipation among marketers and traders who had delayed purchases in expectation of a downward review.

Industry observers say the new pricing is likely to trigger immediate reactions across private depots and fuel distribution channels, particularly after several days of cautious trading activity driven by expectations of a price reduction.

Depot Prices Respond

Market data showed that some depot operators had already begun adjusting their prices ahead of the refinery’s announcement.

According to industry checks, Aiteo and Nipco were selling petrol at ₦1,272 per litre, while Integrated, Ascon, and African Terminal were trading at approximately ₦1,274 per litre—slightly below Dangote Refinery’s previous gantry price of ₦1,275 per litre.

The revised price is expected to influence depot pricing nationwide and could lead to lower wholesale and retail fuel costs if market conditions remain favourable.

Declining Crude Oil Prices

The reduction comes amid a decline in global crude oil prices, which has contributed to expectations of lower refined petroleum product prices.

At the time of the price adjustment, Brent crude was trading at $91.12 per barrel, down 1.70 per cent, while U.S. West Texas Intermediate (WTI) crude stood at $87.36 per barrel, representing a decline of 1.73 per cent.

The drop in international oil prices prompted many marketers to postpone purchases during the week, anticipating a more favourable pricing regime from the refinery.

Impact on Downstream Market

Industry stakeholders believe the latest price cut could reshape pricing trends across depots in the coming days and potentially ease pressure on fuel supply costs.

Analysts also note that the development underscores the growing influence of the Dangote Refinery on Nigeria’s petroleum sector, with its pricing decisions increasingly shaping trader behaviour, depot operations, and short-term product supply dynamics.

Since commencing large-scale operations, the refinery has emerged as a major player in the domestic fuel market, with industry participants closely monitoring its pricing decisions as a benchmark for downstream activities across the country.