Dangote Petroleum Refinery has announced a reduction in the prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel), effective March 10, 2026, in response to changes in global crude oil prices.

Under the new pricing structure, the gantry price of petrol has been reduced from ₦1,175 to ₦1,075 per litre, representing a ₦100 drop. The coastal price has also been lowered from ₦1,150 to ₦1,028 per litre, a decrease of ₦122.

The refinery also slashed the price of diesel from ₦1,620 to ₦1,430 per litre, amounting to a reduction of ₦190.

Management of the refinery said the adjustment reflects its commitment to ensuring that domestic fuel prices remain responsive to global market dynamics while maintaining a fair pricing system for consumers.

According to the company, the decision aligns with its policy of adjusting product prices in line with fluctuations in international crude oil prices.

Dangote Refinery explained that all crude supplies are priced based on global benchmark prices with an additional premium of between $3 and $6, while foreign exchange transactions are carried out at prevailing market rates without any subsidy.

It further clarified that crude supplied under the naira-for-crude arrangement is also priced according to the global benchmark plus premium before being converted to naira using the current exchange rate.

The company noted that in 2025 it reduced its gantry price at least eight times, while increases were recorded only twice, describing the move as part of its commitment to economic patriotism and support for Nigerians.

Dangote Refinery reaffirmed its dedication to strengthening Nigeria’s energy security while ensuring that the benefits of favourable market conditions are passed on to consumers across the country.