- Dangote Refinery announced new ex-depot prices for petrol and diesel, with the changes taking effect on August 6, 2026
- The refinery cut petrol by N50 per litre and diesel by N80 per litre, continuing its push to dominate Nigeria’s downstream fuel market
- The price drop could pressure other depot operators to lower their rates, potentially leading to cheaper fuel at the pump for consumers
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Dangote Petroleum Refinery has reduced its ex-depot prices for both petrol and diesel, with the new gantry price for premium motor spirit (PMS) now set at N1,165 per litre, down from N1,215. Diesel will sell at N1,570 per litre, compared to the previous rate of N1,650.
The refinery issued a formal notice confirming that the revised prices will come into force on Wednesday, August 6, 2026.
Photo: Bloomberg
Source: Getty Images
The reductions amount to N50 per litre on petrol and N80 per litre on diesel, marking another step in the refinery’s effort to assert itself in Nigeria’s downstream petroleum sector since it began full commercial operations.
Dangote’s Free Delivery Programme Expands
The price announcement coincides with the ongoing rollout of the refinery’s free petrol delivery scheme, which currently covers Lagos, Ogun, Rivers, Kaduna, the Federal Capital Territory (Abuja), and Delta State.
The refinery said more states will be brought into the programme in later phases, though no specific timeline was given for the expansion.
To qualify for the free delivery service, buyers must place orders of at least 250,000 litres of petrol.
What a Dangote price cut could mean
Industry analysts say the lower acquisition costs at the depot level could give retail marketers room to bring down pump prices for consumers, provided the savings are passed along the supply chain rather than absorbed as margin.
The move is also expected to sharpen competition among fuel depot operators, many of whom have already revised their pricing in recent weeks as domestic refining capacity increased and supply dynamics shifted across the country.
As the country’s largest refinery, Dangote’s pricing decisions often influence the wider downstream market, with many depot operators adjusting their own rates in response.
Although the refinery has yet to issue an official statement, market sources insist it is closely monitoring prevailing market conditions before making its next move.
Petrol prices also converge
In a related development, Legit.ng reported that the petrol market is showing similar trends, with depot prices across the country now closely matching Dangote Refinery’s current ex-depot rate.
In Lagos, Aiteo reviewed its petrol price to N1,215 per litre, while Emadeb and Ardova sold at ₦1,217 per litre. MRS Tin Can quoted N1,218 per litre.
Outside Lagos, Liquid Bulk in Port Harcourt sold petrol at N1,220 per litre, Matrix offered N1,222 per litre, while Hong Petroleum, Mainland and Sobaz in Calabar quoted prices ranging from N1,217 to N1,218 per litre.
Source: Legit.ng