The Dangote Petroleum Refinery has implemented a significant reduction in its petrol gantry price, dropping the depot rate from N828 to N699 per litre, marking a N129 cut or 15.58 per cent decrease. This adjustment, confirmed through real-time market data on Petroleumprice.ng published on Friday, takes effect immediately and represents the latest in a series of downward revisions by the refinery throughout 2025.
An official from the refinery, speaking on condition of anonymity due to lack of authority to comment publicly, verified the development, stating, “The refinery has reduced petrol gantry price to N699 per litre.”
The move aligns with the company’s strategy to ease transportation costs as millions of Nigerians prepare for interstate travel during the Christmas and New Year celebrations.
Journalist Imran Muhammed reported that senior refinery officials framed the price cut as both an economic measure and a social initiative to support road transport operators. The company explained its commitment, noting this pricing adjustment demonstrates their “commitment to make the season memorable for citizens and reduce cost pressures on road transport operators.”
Industry insiders highlighted that the refinery’s successive price changes signal the collapse of the former marketers’ consortium model, enabling direct deals with individual marketers for faster pricing responses and broader market reach.
This reduction is expected to lead to lower retail fuel prices across various states, especially in the North and South-East regions where holiday logistics costs typically surge.
Refinery officials indicated that further adjustments could follow as output ramps up ahead of the facility’s expansion phase, potentially influencing broader market dynamics amid ongoing global crude oil fluctuations.
The development comes shortly after remarks by Dangote Petroleum Refinery Chairman Aliko Dangote during a meeting with President Bola Tinubu on December 6, reaffirming the company’s dedication to competitive domestic fuel pricing.
