₦airaland Forum

Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (petrol) by N75 per litre

In a circular to fuel marketers on Monday, the refinery said the adjustment followed the de-escalation of the tension in the Middle East, which had impacted energy prices in the past three months.

“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,” the circular stated.

It added that the new gantry price is now 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 refinery said the new rates will take effect from midnight.

“Kindly note that all outstanding unloaded gantry volumes will be repriced at the new rate effective 12:00 AM, June 16, 2026.

“We sincerely appreciate your continued patronage and assure you of our unwavering commitment to reliable product supply and excellent service delivery,” the circular noted.

According to Petroleumprice.ng, the Dangote refinery is now the cheapest petrol, as many marketers sold it for around N1,240 on Monday.

The latest reduction comes amid easing tensions in the global oil market following reports of ongoing negotiations between the United States and Iran over the reopening of the Strait of Hormuz.

Oil prices, which had surged to about 83 per barrel as of Monday after Trump announced the signing of the deal.

Crude oil, the major feedstock for fuel production, had risen sharply since the outbreak of hostilities between the United States and Iran on February 28. During the three-month conflict, crude prices climbed above 120 per barrel, triggering higher fuel prices.

In Nigeria, petrol prices rose from about N830 per litre to around M1,300 per litre during the period. Diesel and aviation fuel prices also recorded significant increases.

With crude prices now retreating, the adjustment by the Dangote refinery is expected to bring further relief in domestic fuel prices.

The PUNCH reports that oil prices continued their downward trend on Monday following the signing of a ceasefire agreement between the United States and Iran to end hostilities in the Middle East and reopen the Strait of Hormuz.

According to Oilprice.com, Brent crude, the global benchmark, dropped from 83 per barrel on Monday.

The US and Iran said they reached an agreement on Sunday to end the war, a development that further pushed down oil prices.

The PUNCH reported on Monday that petrol could drop to as low as N900 per litre in the coming days if the peace deal between the United States and Iran materialised.

With US President Donald Trump announcing the signing of the peace deal and a partial reopening of the Strait of Hormuz, oil prices further crashed, fuelling speculation of more fuel price reductions in the coming days, should the crisis fully de-escalate.

Nigerians are waiting for more drops in petrol prices. However, a Dangote Petroleum Refinery official, while saying petrol could fall to N900 per litre, cautioned that the refinery still had the “expensive crude” in its tanks.

Politicstoday:
With the US-Iran deal signed & the Strait of Hormuz reopening, global crude prices WILL fall. Dangote Refinery has no excuse — gantry price should drop to ≈₦900/litre.

Nigerians deserve pump prices of ₦950–₦1,050/litre. NOT ₦1,300+.

The Hormuz crisis inflated prices. The crisis is ending. The savings must flow to the people. 🇳🇬

#NigeriaFuelPrice #HormuzDeal #DangoteRefinery #PMS

Politicstoday:
With the US-Iran deal signed & the Strait of Hormuz reopening, global crude prices WILL fall. Dangote Refinery has no excuse — gantry price should drop to ≈₦900/litre.

Nigerians deserve pump prices of ₦950–₦1,050/litre. NOT ₦1,300+.

The Hormuz crisis inflated prices. The crisis is ending. The savings must flow to the people. 🇳🇬

#NigeriaFuelPrice #HormuzDeal #DangoteRefinery #PMS

sleek214:
Before the war, it was between 780-840. It should go back to 780/L

Politicstoday:
With the US-Iran deal signed & the Strait of Hormuz reopening, global crude prices WILL fall. Dangote Refinery has no excuse — gantry price should drop to ≈₦900/litre.

Nigerians deserve pump prices of ₦950–₦1,050/litre. NOT ₦1,300+.

The Hormuz crisis inflated prices. The crisis is ending. The savings must flow to the people. 🇳🇬

#NigeriaFuelPrice #HormuzDeal #DangoteRefinery #PMS

Pootle:
still not enough, the govt need to provide alternatives to dangote

koning:
Should drop to between 400 and 500 naira.

Before subsidy removal it was around N148. With subsidy removal and sharp rise in Dollar, any addition to the original price should not be more than N200 per litre.

Crude will come down to below $75 in the coming weeks.

N450 - 500 is a reasonable price.

tollyboy5:
The government?
Wetin do you?

Pootle:
on top how much i get, if i be otedola and co i go challenge am

iwaeda:
I thought it is N900 like one trap said. They are just waiting for elections, price will get to N1800.

Politicstoday:
With the US-Iran deal signed & the Strait of Hormuz reopening, global crude prices WILL fall. Dangote Refinery has no excuse — gantry price should drop to ≈₦900/litre.

Nigerians deserve pump prices of ₦950–₦1,050/litre. NOT ₦1,300+.

The Hormuz crisis inflated prices. The crisis is ending. The savings must flow to the people. 🇳🇬

#NigeriaFuelPrice #HormuzDeal #DangoteRefinery #PMS

Pootle:
still not enough, the govt need to provide alternatives to dangote, other billionaires should invest in the petroleum sector too

bluefilm:
Really?

Are you really serious?

tollyboy5:
Believe mybro, you sef no small lol 😂

Pootle:
still not enough, the govt need to provide alternatives to dangote, other billionaires should invest in the petroleum sector too

chrisxxx:
MTN recoup their investment in Nigeria just under 12 months. Dangote has beaten that record with his refinery. Thanks to IRAN-ISRAEL-AMERICA War.

Politicstoday:
https://punchng.com/dangote-refinery-slashes-petrol-gantry-price-by-n75-litre