Dangote Refinery Cuts Petrol Price to ₦1,325 Per Litre

Dangote Refinery has reduced its ex-depot price of premium motor spirit (petrol) to ₦1,325 per litre, reversing part of its recent price increase as international crude oil prices softened. The new price took effect on Monday, September 21, 2026, and is expected to strengthen competition in Nigeria’s deregulated downstream petroleum market.

The adjustment comes just days after the refinery raised its petrol price from ₦1,265 to ₦1,350 per litre on September 12. The latest reduction therefore represents a partial reversal of that increase, reflecting the refinery’s response to changing conditions in the global oil market rather than a broader shift away from market-based pricing.

The price review followed a decline of more than 3% in international crude oil prices. During the latest trading session, Brent crude traded at approximately $100.40 per barrel, while West Texas Intermediate (WTI) stood at about $92.40 per barrel, with both global benchmarks recording losses as oil markets reacted to easing supply concerns and broader market sentiment.

Although the new ₦1,325 rate applies to wholesale buyers purchasing directly from the refinery, it is likely to influence retail pump prices over time. Ex-depot prices serve as the foundation for fuel distribution costs, meaning any reduction can gradually filter through marketers, transporters and filling stations, though final prices will continue to vary across states due to logistics, depot charges and operating expenses.

The development comes as Nigeria’s downstream petroleum sector continues to adapt to a fully deregulated pricing regime, where refiners and marketers now adjust prices in response to movements in crude oil, exchange rates and domestic competition. Since beginning large-scale fuel production, Dangote Refinery has increasingly reshaped Nigeria’s fuel supply landscape by reducing dependence on imported petrol and establishing new pricing benchmarks for the industry.

Industry analysts say the latest cut could intensify competitive pressure on fuel importers and independent depots, particularly if domestic refining capacity continues to expand. Increased local production has already improved fuel availability, while frequent price adjustments are creating a more dynamic and competitive wholesale market.

For consumers, the immediate benefit will depend on how quickly marketers pass the savings on at the pump. While retail prices may not fall uniformly nationwide, lower wholesale costs have the potential to reduce transportation expenses, ease distribution costs for businesses and contribute to moderating inflation across sectors heavily reliant on road logistics.

As Africa’s largest refinery strengthens its position in the domestic fuel market, each pricing decision is becoming increasingly significant for households, businesses and the wider economy. The latest reduction to ₦1,325 per litre underscores how closely Nigeria’s fuel prices are now tied to global oil movements within a competitive, market-driven petroleum industry.