The Dangote Refinery has announced another reduction in the price of Premium Motor Spirit (PMS), marking its fourth price cut within a month as global crude oil prices continue to decline.
In a statement issued on Thursday, the refinery said the ex-depot (gantry) price of petrol has been reduced by N50, bringing it down from N1,125 to N1,075 per litre.
The latest adjustment brings the refinery’s cumulative reduction in petrol prices to over N200 per litre since May 30, 2026.
The company also announced significant reductions in the prices of other petroleum products. The ex-depot price of Automotive Gas Oil (AGO), commonly known as diesel, was cut by N300 per litre, while Jet A1 aviation fuel was reduced by N520 per litre.
According to the refinery, the successive price reductions reflect its commitment to ensuring Nigerians benefit from favourable market conditions while sustaining the long-term viability of domestic refining operations.
The company explained that the petroleum products currently being supplied were refined from crude oil inventories purchased when international crude prices were considerably higher.
“Today’s N50 per litre reduction is the fourth price cut in one month, bringing cumulative reductions to above N200 per litre on PMS. This approach ensures that pricing decisions are anchored on actual production economics and inventory costs rather than short-term fluctuations in international oil markets,” the statement read.
The refinery added that Nigeria is increasingly benefiting from the stabilising impact of local refining capacity.
It noted that the Dangote Petroleum Refinery currently supplies enough fuel to meet domestic demand, helping to strengthen the nation’s energy security, reduce reliance on imported petroleum products, conserve foreign exchange, and provide greater price stability for consumers and businesses.
The latest announcement follows three previous reductions in petrol prices by the refinery over the past month, as easing global crude oil prices continue to influence domestic fuel pricing.
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