Nigerians may see some relief in fuel costs after the Dangote Petroleum Refinery on Tuesday announced a fresh reduction in the gantry price of Premium Motor Spirit (PMS), popularly known as petrol.
According to a pricing template released by the refinery on March 10, 2026, the gantry price of petrol has been reduced by ₦100 per litre, dropping from ₦1,175 to ₦1,075 per litre.
The refinery also announced that PMS supplied through coastal distribution will now sell for ₦1,050 per litre, noting that the variation reflects additional logistics costs associated with maritime transportation.
Similarly, the gantry price of Automotive Gas Oil (diesel) has been cut to ₦1,430 per litre from ₦1,620 per litre, representing a ₦190 reduction.
However, the refinery clarified that the listed prices exclude statutory charges imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The latest adjustment comes barely hours after the refinery raised its gantry PMS price to ₦1,175 per litre — the third upward review within seven days.
Marketers were earlier notified of the revised ex-depot price, which jumped by ₦180 from ₦995 per litre announced last Friday, representing an 18.1 per cent increase within three days.
Industry observers say the rapid price fluctuations are linked to volatility in the global crude oil market triggered by escalating tensions in the Middle East involving Iran, Israel and the United States. The conflict has heightened fears of supply disruptions in the region, pushing crude prices upward and forcing refiners and fuel suppliers to frequently adjust petroleum product prices.
With Nigeria operating a deregulated downstream petroleum market, such global shocks now transmit more quickly to domestic fuel prices.
