Several Nigerian filling stations adjusted fuel prices on Tuesday after Dangote Refinery announced a ₦100 per litre gantry price cut.
According to findings from another online news media, Daily Post, Ranoil and Sharon stations in Abuja reduced petrol prices slightly, dropping from ₦1,350 to ₦1,330 per litre. However, NNPC retail outlets, MRS, and AA Rano raised their pump prices to between ₦1,260 and ₦1,330 per litre, up from ₦1,090 on Monday.
Diesel remained unchanged at ₦1,780 per litre across major outlets.
A manager at MRS confirmed to Daily Post that their petrol price stood at ₦1,260 per litre but did not say if it would drop further.
PETROAN President Billy Gillis-Harry told Daily Post, “An adjustment may come from now to Friday since Dangote refinery cut gantry price to ₦1,075 per litre today.”
Dangote Refinery Price Adjustments
Dangote Refinery earlier educed its ex-gantry petrol price to ₦1,075 per litre on Tuesday, down from ₦1,175. Coastal distribution prices were set at ₦1,050 per litre. Diesel prices also fell from ₦1,620 to ₦1,430 per litre.
Dangote Group’s Chief Communications Officer Anthony Chiejina told Channels Television that the reduction reflects declining global crude oil prices.
The refinery explained, “The gantry price of PMS has been reduced from ₦1,175 to ₦1,075 per litre, while the coastal price has been lowered from ₦1,150 to ₦1,028 per litre. The price of diesel has also been reduced from ₦1,620 to ₦1,430 per litre.”
This marks the first cut after three successive hikes that pushed petrol prices from ₦874 on March 2 to ₦1,175 on March 10.
The refinery said its crude supply is priced on global benchmarks plus a premium, with forex paid at prevailing market rates.
Global crude prices dropped to $90 per barrel on Tuesday after U.S. President Donald Trump signaled an end to the Iran war.
He told CBS News, “I think the war is very complete, pretty much. They have no navy, no communications, and they’ve got no air force.”
Despite the reduction, PETROAN warned that petrol could still rise to ₦1,500 per litre if global volatility continues.
Gillis-Harry said, “The availability of product is much more important than pricing. The Dangote Refinery is the salvation for us due to the consistent source of product.”
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