On Thursday 2 July, 2026, Dangote Refinery announced, it has lessened the prices of fuel again.
The announcement was made via an official Statement from the Company, where it made known a cut in the ex-depot price of Premium Motor Spirit (PMS). This move marks the fourth time it is reducing price within a month.
It said, it is working hard to ensure prices are affordable to consumers, despite processing crude oil bought at “significantly” higher international prices.
The Statement reads: “Dangote Petroleum Refinery & Petrochemicals has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), marking its fourth price cut within a month as the company said it continues to pass lower production costs to consumers despite still processing crude oil purchased at significantly higher international prices.”
In the latest price reduction, the refinery’s PMS ex-depot price has been decreased by “₦50 per litre”, bringing the amassed price reduction to “₦200 per litre” since May 30, and leaving the gantry price at “₦1,075”.
The Company also made known, a reduction in the ex-depot prices of Automotive Gas Oil (AGO) and Jet A1 aviation fuel by “₦300 per litre” and “₦520 per litre” respectively.
The Statement also reads: “The latest N50 per litre reduction brings the cumulative decrease in the refinery’s PMS ex depot price to N200 per litre since May 30, 2026, reducing the gantry price to 1, 075. Over the same period, the refinery has reduced the ex-depot price of Automotive Gas Oil (AGO) by N300 per litre and Jet A1 aviation fuel by N520 per litre.”
According to the Company, the consecutive reductions in fuel prices show it is committed to making sure Nigerians “benefit from favourable market developments”.
The Statement further reads: “The company said the successive reductions demonstrate its commitment to ensuring Nigerians benefit from favourable market developments while maintaining the long-term sustainability of domestic refining operations.”
Photo: Dangote Refinery
