Dangote Refinery cuts petrol price by N50, diesel by N80 as new ex-depot rates take effect August 6
By Aboki Forex —
Dangote Petroleum Refinery has cut its ex-depot prices for petrol and diesel, effective Wednesday, August 6, 2026. Petrol drops by N50 per litre to N1,165, while diesel falls by N80 per litre to N1,570.
New gantry prices
The refinery issued a formal notice confirming the revised prices. Premium motor spirit (PMS) now sells at N1,165 per litre, down from N1,215. Diesel now sells at N1,570 per litre, compared to the previous N1,650.
The reduction continues the refinery's push to assert itself in Nigeria's downstream petroleum sector since it began full commercial operations.
Free delivery scheme conditions
The price announcement came alongside the ongoing rollout of Dangote's free petrol delivery scheme. The programme currently covers Lagos, Ogun, Rivers, Kaduna, the Federal Capital Territory (Abuja), and Delta State.
The refinery said more states will be included in later phases, but no specific timeline was given. To qualify for free delivery, buyers must place orders of at least 250,000 litres of petrol.
Impact on depot prices and consumers
Industry analysts say the lower acquisition costs at the depot level could give retail marketers room to bring down pump prices for consumers. That depends on whether the savings are passed along the supply chain rather than absorbed as margin.
The move is also expected to sharpen competition among fuel depot operators. Many have already revised their pricing in recent weeks as domestic refining capacity increased and supply dynamics shifted across the country.
As the country's largest refinery, Dangote's pricing decisions often influence the wider downstream market. Depot prices across Nigeria now closely match Dangote's current ex-depot rate.
In Lagos, Aiteo reviewed its petrol price to N1,215 per litre, while Emadeb and Ardova sold at N1,217 per litre. MRS Tin Can quoted N1,218 per litre. Outside Lagos, Liquid Bulk in Port Harcourt sold petrol at N1,220 per litre, Matrix offered N1,222 per litre, while Hong Petroleum, Mainland and Sobaz in Calabar quoted prices ranging from N1,217 to N1,218 per litre.
The refinery has yet to issue an official statement, but market sources say it is closely monitoring prevailing market conditions before making its next move.
For consumers and businesses, cheaper ex-depot prices could translate to lower fuel costs at the pump and reduced operating expenses for transport and production, provided marketers pass on the savings.