The Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (petrol) by N75 per litre.
The adjustment lowers the gantry price to N1,175 per litre, down from N1,250, while the coastal price per metric tonne has been reduced from N1,595,790 to N1,495,215. The new rates took effect at midnight on June 16, 2026.
In a circular sent to fuel marketers, the refinery explained that the price review followed a de-escalation of geopolitical tensions in the Middle East, which had impacted global energy markets over the past three months.
The announcement noted that all outstanding unloaded gantry volumes would be repriced at the new rate.
Data from energy tracking platforms indicates the adjustment makes the Dangote refinery the cheapest source of petrol in the domestic market, where many marketers previously sold the product for around N1,240 per litre.
The reduction comes as global oil prices ease following reports of ongoing negotiations between the United States and Iran over the reopening of the Strait of Hormuz.
A recently signed ceasefire agreement caused Brent crude, the global benchmark, to drop toward $83 per barrel.
Prior to the peace deal, crude oil prices had risen sharply above $120 per barrel following the outbreak of hostilities on February 28.
Favor As Higher Power?
(The hidden truth)
Some positions in life cannot be held or retained for long if you are not favored. Favor is higher power. You are not the only one desiring, deserving, connected, powerful or qualified. Some positions in life, opportunities, success, achievements, triumphs, selection, approvals, power and position, elevation, patronage, etc, are mainly through favor. Favor is silent, spiritual and higher power. For spiritual guidance, other solutions, call/Whatsapp Dr J.A. Faros on 07030514063. With God, all are possible.