Dangote Refinery Cuts Petrol Price by N35, New Rate Emerges

According to Daily Post, published on October 31, 2026, Dangote Refinery has reduced its petrol gantry price to N1,215 per litre from the previous N1,250, representing a reduction of N35.

The latest adjustment was confirmed through a market survey and comments from industry stakeholders. The development comes as Nigerian motorists continue to face relatively high petrol prices at filling stations.

Olatide Jeremiah, Chief Executive of Petroleumprice.ng, confirmed the new rate during an interview with Daily Post. He explained that information about the refinery’s revised price came from consortium marketers.

Jeremiah also disclosed that depot operators, including Soroman, Aiteo and Masters, were selling petrol at prices ranging from N1,255 to N1,300 per litre.

The development has attracted a positive response from the Independent Petroleum Marketers Association of Nigeria (IPMAN).

Its President, Abubakar Maigandi, welcomed the reduction, describing it as a positive development for Nigerians. He made the comment while reacting to the refinery’s latest price adjustment in an interview with Daily Post.

Before the announcement, retail petrol prices across filling stations in the country were reportedly between N1,370 and N1,429 per litre.

However, the reduction in the refinery’s gantry price does not automatically mean that motorists will immediately pay less at every filling station. Retail prices can differ depending on the rates charged by marketers and other distribution costs.

Daily Post reported that the latest adjustment was expected to influence pump prices from Monday. This means motorists will be watching to see whether filling stations respond to the new gantry rate in the coming days.

For consumers who have been dealing with high transportation and fuel expenses, any reduction in petrol prices could provide some relief. The extent of that relief will become clearer once marketers begin adjusting their retail prices.