LAGOS, NIGERIA: The Dangote Petroleum Refinery reduced its ex-gantry price of Premium Motor Spirit from N1,125 ($0.75) to N1,075 ($0.72) per litre on Thursday, July 2, 2026.
Okay News reports that a senior official at the refinery confirmed the immediate price adjustment and the alignment of the coastal loading price to N1,075 ($0.72) per litre. The official, who spoke on condition of anonymity, stated the change removes the previous price differential between coastal and gantry sales.
“The refinery has reduced the ex-gantry price of PMS from N1,125 per litre to N1,075 per litre. The coastal loading price has also been adjusted to N1,075 per litre. This is part of the refinery’s efforts to make products more accessible and competitive in the market,” the official said.
The price adjustment represents a N50 ($0.03) reduction, which is the second cut within seven days. The refinery previously lowered the price from N1,175 ($0.78) to N1,125 ($0.75) per litre earlier in the week.
The refinery also suspended its 20-member consortium arrangement to allow product loading by all qualified marketers. “The consortium arrangement has been cancelled. Loading at both the gantry and coastal terminals is now open to all marketers who meet the necessary requirements. The objective is to deepen market access and ensure seamless distribution of products across the country,” the source said.
Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, earlier stated that fuel prices in a deregulated market will be determined by market forces and competition. The Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Federal Competition and Consumer Protection Commission have issued warnings against arbitrary pricing practices, directing operators to maintain cost-reflective prices under the current deregulation regime.
