Dangote Refinery cuts petrol price by N50 to N1,075/litre, fourth cut in May

Dangote Petroleum Refinery & Petrochemicals has cut the ex‑depot price of Premium Motor Spirit (petrol) by N50, bringing the price to N1,075 per litre. This is the fourth price reduction since May 30, 2026, for a cumulative cut of N200 per litre. The refinery also lowered Automotive Gas Oil (AGO) by N300 per litre and Jet A1 aviation fuel by N520 per litre. The company says the cuts reflect improving market conditions and its commitment to passing lower production costs to consumers while keeping operations sustainable.

The move is expected to push down retail pump prices as marketers adjust to the lower ex‑depot cost. Nigeria’s downstream petroleum sector remains deregulated, with the Minister of State for Petroleum, Heineken Lokpobiri, stating that fuel prices are set by market forces, not government directives. Regulators NMDPRA and the FCCPC have urged marketers to avoid profiteering and to let consumers benefit from lower costs driven by improved supply and competition.

According to the National Bureau of Statistics, the average retail price of petrol rose 55.31% year‑on‑year to N1,596.25 per litre in May 2026. With Dangote’s latest cut, consumers may see some relief at the pump, though actual retail prices will depend on individual marketers’ pricing decisions and prevailing market conditions.

SOURCE: https://nairametrics.com/2026/07/02/dangote-refinery-slashes-petrol-price-again-to-n1075-per-litre/