Dangote Petroleum Refinery has reduced ex-depot prices for petrol and diesel, offering relief amid rising fuel costs in Nigeria. Premium Motor Spirit, commonly called petrol, has dropped by ₦100 per litre to ₦1,075 from ₦1,175. Diesel, also known as Automotive Gas Oil, fell by ₦190 per litre to ₦1,430 from ₦1,620.
The refinery noted that statutory charges imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority are not included in these rates. These fees and logistics costs can add roughly ₦10–₦50 per litre before fuel reaches retail pumps.
Across Nigeria, pump prices remain significantly higher than the ex-depot rates. In Lagos, Abuja, and Port Harcourt, motorists are paying between ₦1,200 and ₦1,300 per litre for petrol. In Oyo State and other South-West locations, petrol has sold for as high as ₦1,300 per litre in the days leading up to the latest cut. Diesel prices at retail outlets continue to hover around ₦1,450 to ₦1,500 per litre.
For coastal distribution, petrol will sell at ₦1,050 per litre. Marketers and motorists are monitoring how quickly the new ex-depot prices will reflect in retail pump rates.
The price reduction follows a slight decline in global crude oil prices after recent spikes caused by tensions in the Middle East. Previous increases in refinery prices had pushed petrol prices above ₦1,200 per litre, adding pressure on transport operators and businesses.
Industry sources say that unless ex-depot prices fall further, retail pump rates may not decrease immediately. Logistics costs, depot handling fees, and statutory levies continue to keep petrol and diesel prices elevated.
Consumers in the North-West, South-East, and Middle Belt states reported paying between ₦1,200 and ₦1,340 per litre at retail pumps as of March 10, reflecting variations in pricing across the country.
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While the refinery’s price cut offers short-term relief for marketers and bulk buyers, many Nigerians remain cautious. Drivers and businesses are watching closely to see whether the reduction will reach retail pumps in the coming days.
