Dangote Refinery Cuts Petrol Gantry Price to N1,250

Dangote Petroleum Refinery has reduced its petrol gantry price to N1,250 per litre from N1,275, in a move that is expected to ripple through Nigeria’s downstream market and influence trading decisions in the days ahead.

The price cut, confirmed on Friday, comes after several days of cautious activity by marketers and traders who had been waiting for a possible downward review from the refinery before making fresh purchases. The adjustment is already being seen as a signal that pricing across depots and marketing channels may shift further in response.

Market data showed that depot prices had begun to reflect the changing supply and pricing environment even before the new gantry price was announced. Aiteo and Nipco were selling at N1,272 per litre, while Integrated, Ascon and African Terminal were trading at about N1,274 per litre, all below Dangote’s previous gantry price of N1,275 per litre.

The reduction also follows a decline in international crude prices, which has helped shape expectations for lower refined product costs. Brent crude was trading at $91.12 per barrel, down 1.70 per cent, while US West Texas Intermediate stood at $87.36 per barrel, down 1.73 per cent, at the time of reporting.

The fall in global oil prices has encouraged many marketers to delay purchases in the hope of securing better margins once prices adjust. That caution has added to the sense that the latest Dangote move could alter the tone of the market, especially if crude prices remain under pressure.