Dangote Refinery lowers petrol loading price to N1,250 a litre under a new pricing system
The refinery has dropped its fixed gantry price for one tied to international gasoline prices, and the number of marketers in its distribution group has fallen to about 25.
Dangote Refinery has reportedly cut its petrol loading price to N1,250 per litre after dropping its fixed gantry pricing in favour of a system linked to international gasoline prices, according to Legit.ng.
Industry sources told the outlet that the new arrangement took effect on Saturday, November 7, 2026, alongside a restructuring of the refinery's marketing group. About 25 marketers now remain in the distribution consortium, down from 37.
Under the revised system the refinery has returned to the European Blendstock for Oxygenate Blending (EBOB) benchmark, which tracks international gasoline prices. The refinery had earlier priced petrol on a five-day average of that benchmark, before switching to a fixed gantry rate of N1,300 per litre. The new figure is N50 lower than that fixed price, a cut of about 3.85 per cent.
Unlike a fixed price, an EBOB-linked system lets movements in global gasoline prices flow into the refinery's local selling price, so the loading price can rise or fall with the market, according to a report by PetroleumPriceNG cited by Legit.ng. Diesel, also called Automotive Gas Oil, reportedly remains on the refinery's fixed gantry pricing.
The report cautions that the new loading price does not guarantee cheaper petrol at filling stations, where transport costs and retailer margins still apply. Another outlet, Billionaires.Africa, put pump prices this month at N1,325 to N1,370 per litre in Lagos and N1,405 to N1,420 in Abuja.
The change comes as refiners, importers and depot operators adjust prices to conditions in the global oil market. On Tuesday the Federal Competition and Consumer Protection Commission (FCCPC) asked refiners and marketers to pass the benefit of falling crude prices on to consumers, saying it would monitor pricing. The commission did not accuse the Dangote refinery or any marketer of wrongdoing.
The cut follows a volatile few weeks. Billionaires.Africa reports that between October 19 and 23, with Brent above $116, marketers cut petrol prices at major depots while diesel rose by as much as N110 a litre. The Major Energies Marketers Association of Nigeria put the landing cost of imported petrol at about N1,072 a litre on November 5, which is below the refinery's loading price.
The 650,000-barrel-a-day refinery in the Lekki Free Zone near Lagos has become the country's main source of petrol and diesel since it began producing fuel, and its gantry prices now set the pace for marketers nationwide, according to the same report. Aliko Dangote spent about $20 billion building the plant. Its share offer, launched in September, drew about N5.85 trillion in applications from nearly 3.8 million investors, close to three times the amount sought.
SOURCE: Legit.ng
