Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, by N75 per litre, citing the easing of tensions in the Middle East that had driven up global energy prices in recent months.

In a circular issued to fuel marketers on Monday, the refinery announced that the new gantry price had been lowered from N1,250 to N1,175 per litre. The coastal price per metric tonne was also reduced from N1,595,790 to N1,495,215.

According to the refinery, the price adjustment followed the de-escalation of geopolitical tensions in the Middle East, which had significantly influenced energy markets over the past three months.

The new pricing structure takes effect from midnight on June 16, 2026. Dangote Refinery stated that all outstanding unloaded gantry volumes would be repriced at the new rate from the effective date.