Dangote Refinery Slashes Petrol Gantry Price To N699 Per Litre

The Dangote Petroleum Refinery has again reduced its petrol gantry price, slashing the depot rate from N828 to N699 per litre.

According to the real-time market data published on Petroleumprice.ng on Friday, the refinery implemented another major downward review, cutting the Premium Motor Spirit benchmark price by N129 per litre — a 15.58 per cent reduction.

An official of the refinery, who pleaded anonymity due to lack of authority to speak confirmed the reduction.

He said, “The refinery has reduced petrol gantry price to N699 per litre.”

According to journalist Imran Muhammed, senior officials from the refinery have also indicated that the refinery introduced this price cut to assist in reducing transportation expenses ahead of the Christmas period, when millions of Nigerians travel across states to reunite with family.

The company explained that this pricing adjustment demonstrates their, “commitment to make the season memorable for citizens and reduce cost pressures on road transport operators.”

He wrote, “According to industry insiders, the refinery’s successive price changes—culminating in today’s significant cut—signal the definitive collapse of the former marketers’ consortium model, which once managed coordinated bulk purchasing. As the refinery expands its nationwide distribution channels, individual marketers can now deal directly, allowing for quicker pricing responses and greater market reach.

“The refinery has framed this latest cut as both an economic measure and a social initiative. With interstate travel expected to rise sharply before Christmas and New Year celebrations, the reduced gantry price should lead to lower retail fuel prices in various states, particularly in the North and South-East regions, where logistics expenses often surge during holidays.”

Officials noted that further adjustments remain possible as the refinery increases output in preparation for its upcoming expansion phase.