"Where Africa Comes to Stay Informed."
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"Where Africa Comes to Stay Informed."
Dangote Petroleum Refinery has taken N25 off the pump-gate price of Premium Motor Spirit, moving a litre down to N1,325 — roughly $1.00 at the Central Bank of Nigeria rate of about N1,331 to the dollar. The cut of about two US cents a litre followed a fresh slide in international crude values.
The new figure took hold on Monday, September 21, 2026. It walks back part of an increase the plant made on September 12, when it moved its gantry price from N1,265 a litre (about $0.95) up to N1,350 (about $1.01). With the latest reduction, buyers now pay N1,325, or close to $1.00, for the same volume.
The revision landed after benchmark crude grades shed more than three per cent in a single session. Brent changed hands near $100.40 a barrel during the period, while West Texas Intermediate settled around $92.40. Both markers finished the session lower.
Traders have tied the softer tone to fresh talk of diplomatic contact between Washington and Tehran. Expectations of renewed engagement have drained some of the risk premium that had been lifting oil quotes.
Pricing at seaside storage terminals shifted alongside the refinery's new benchmark. Figures published by Petroleumprice.ng put several tracked depots in Warri and Port Harcourt at N1,330 a litre, or about $1.00. Some terminals in Calabar were quoted marginally lower at N1,327, which also works out to roughly $1.00.
Not every seller matched the refinery. In Lagos, the Integrated and Ascon terminals were reported at N1,351 a litre — near $1.01 — leaving them priced above what Dangote is charging at its own gantry.
The adjustment arrives as fuel marketers and other operators across Nigeria's downstream sector react to swings in crude values and to how much product is available at home. Where crude goes from here, how hard refiners and marketers compete for volume, and the drift in wholesale quotes should keep shaping what motorists pay over the weeks ahead.
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