The Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for Premium Motor Spirit to ₦1,200 per litre, while pegging its coastal price at ₦1,153 per litre, a development expected to reshape fuel supply costs across Nigeria’s downstream distribution chain.
According to the spokesperson for the Dangote Group, Anthony Chiejina, the price adjustment represents a downward review in the refinery’s pricing template and comes at a time of heightened uncertainty in the global oil market driven by geopolitical tensions in the Middle East.
“Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to ₦1,200 per litre and its coastal price to ₦1,153 per litre, a move that comes amid ongoing tensions in the Middle East that continue to influence global oil markets.
“The adjustment marks a downward review in the refinery’s pricing structure and is expected to influence fuel supply costs across distribution channels, including depots and retail outlets,” Chiejina said.
With the new ₦1,200 per litre rate, marketers are expected to recalibrate their landing costs, especially those sourcing locally instead of importing.
Similarly, the coastal price of ₦1,153 per litre is expected to affect marine deliveries to coastal depots, providing an alternative supply route for distributors operating in southern corridors.
Credit: punchng.com
