By Ghazali Ibrahim
Dangote Refinery has reduced the gantry prices of petrol and diesel, offering a measure of relief to fuel marketers and consumers after a series of sharp increases in recent days.
According to the refinery’s latest pricing template released on March 10, the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, was cut by ₦100, dropping from ₦1,175 to ₦1,075 per litre.
The refinery also reduced the price of Automotive Gas Oil (diesel) to ₦1,430 per litre, representing a ₦190 decrease from the previous price of ₦1,620 per litre.
The new pricing structure also shows that petrol supplied through coastal distribution will sell for ₦1,050 per litre, reflecting a slight difference due to maritime transportation costs.
Industry observers say the downward review comes after several consecutive price hikes earlier in the week that pushed the refinery’s petrol gantry price to ₦1,175 per litre.
Analysts note that the reduction could provide temporary relief to marketers and transport operators, and may lead to a slight drop in pump prices at filling stations across the country if marketers adjust their retail rates accordingly.
However, industry experts warn that petrol prices in Nigeria remain closely tied to international crude oil prices and exchange rate fluctuations, meaning further adjustments could still occur depending on global market conditions.
