By Lawal Suliah
LAGOS, October 31, 2026 — Dangote Refinery has reduced its Premium Motor Spirit (PMS) gantry price from ₦1,250 to ₦1,215 per litre, representing a decrease of ₦35 per litre.
A market survey by DAILY POST showed that the latest adjustment had brought down the refinery’s petrol loading price amid elevated fuel prices across Nigeria in recent weeks.
The Chief Executive of Petroleumprice.ng, Olatide Jeremiah, also confirmed the reduction, explaining that depot owners, including Soroman, Aiteo and Masters, were selling petrol at prices ranging between ₦1,255 and ₦1,300 per litre.
According to Jeremiah, the new price was confirmed by consortium marketers.
“It’s the consortium marketers’ price,” he told DAILY POST in an interview.
Reacting to the development, the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, described the reduction as a positive development for Nigerians.
“It is a good thing for Nigerians,” he told DAILY POST.
The latest price adjustment comes as petrol retail prices across filling stations in Nigeria range between ₦1,370 and ₦1,429 per litre.
Following the reduction in the refinery’s gantry price, retail petrol prices are expected to decline from Monday, although the extent of any reduction will depend on subsequent adjustments by marketers.
Meanwhile, crude oil prices stood at $104 per barrel for West Texas Intermediate (WTI) and $113 per barrel for Brent crude at the time of filing the report.
