Nigerian filling stations have cut petrol pump prices by between N35 and N90 per litre, following a reduction in Dangote Refinery’s gantry price three weeks earlier. Surveys across Abuja and surrounding areas show major retailers including MRS, the Nigerian National Petroleum Company Limited, AA Rano, the Nigerian Independent Petroleum Company and Emedab now sell Premium Motor Spirit between N1,210 and N1,275 per litre. This compares with a range of N1,305 to N1,335 per litre recorded at the end of July, marking a minimum drop of N35 per litre in the first three weeks of August.
The adjustment tracks Dangote Refinery’s decision to lower its gantry price by N50, from N1,210 to N1,165 per litre. At that level, the refinery’s petrol is N53.54 cheaper per litre than imported fuel, which carries a landing cost of N1,218.54. The price movement underscores the growing influence of domestic refining on Nigeria’s downstream market.
Analysts note the reductions come despite firm international crude benchmarks. Brent Traded at $91.90 per barrel while West Texas Intermediate stood at $84.60 at the time of the survey, suggesting local supply dynamics are increasingly decoupling pump prices from global benchmarks.
Industry observers say the trend reflects a more competitive environment as Dangote’s output displaces costlier imports. Retail margins remain under pressure, but the pass-through of lower gantry prices to forecourts signals improved transparency in the supply chain. Further adjustments are expected as additional domestic refining capacity comes online and the market continues to respond to the new pricing architecture.
