The Dangote Petroleum Refinery has once more lowered its petrol gantry price, reducing the depot rate from N828 to N699 per litre.
Real-time figures on Petroleumprice.ng on Friday showed the refinery implementing another significant downward revision, trimming the Premium Motor Spirit benchmark cost by N129 per litre — a 15.58 per cent drop.
A refinery official, who requested anonymity due to not being cleared to speak, confirmed the new price adjustment.
He said, “The refinery has reduced petrol gantry price to N699 per litre.”
According to media reports, top refinery executives also disclosed that the latest reduction was introduced to help cut transport costs ahead of the Christmas period, when millions of Nigerians travel nationwide to reunite with loved ones.
The company added that the revised pricing reflects its, “commitment to make the season memorable for citizens and reduce cost pressures on road transport operators.”
He wrote, “According to industry insiders, the refinery’s successive price changes—culminating in today’s significant cut—signal the definitive collapse of the former marketers’ consortium model, which once managed coordinated bulk purchasing. As the refinery expands its nationwide distribution channels, individual marketers can now deal directly, allowing for quicker pricing responses and greater market reach.
“The refinery has framed this latest cut as both an economic measure and a social initiative. With interstate travel expected to rise sharply before Christmas and New Year celebrations, the reduced gantry price should lead to lower retail fuel prices in various states, particularly in the North and South-East regions, where logistics expenses often surge during holidays.”
Officials noted that more price shifts could still occur as the refinery boosts production ahead of its next expansion stage.
