Petrol Price Drops as Filling Stations Cut PMS Prices by Up to N90 After Dangote Refinery Reduction

Nigerian filling stations have reduced their Premium Motor Spirit (PMS) pump petrol prices by between N35 and N90 per litre, roughly three weeks after Dangote Refinery lowered its gantry price.

Checks by PulseNets showed that MRS, Nigerian National Petroleum Company Limited (NNPCL), AA Rano, Nigerian Independent Petroleum Company (NIPCO), Emedab and other filling stations in Abuja and its environs have reduced their petrol prices to between N1,210 and N1,275 per litre.

The new prices represent a decline from the N1,305 to N1,335 per litre range recorded as of July 31, 2026.

This means that within the first 20 days of August, filling stations across Nigeria’s downstream petroleum market adjusted their petrol pump prices downward by at least N35 per litre.

PulseNets learnt that the notable decline in petrol prices followed Dangote Refinery’s N45 reduction in its gantry price for Premium Motor Spirit, bringing the price down from N1,210 to N1,165 per litre.

The refinery’s petrol is also N53.54 cheaper than imported fuel, whose landing cost stood at N1,218.54 per litre.

The latest petrol price movement highlights the changing dynamics within Nigeria’s downstream oil sector, particularly as locally refined products increasingly influence pump prices across the country.

Also Read: FG Meets Dangote Refinery, Marketers to Fast Track Petrol Price Reduction as Crude Oil Prices Fall

Despite the decline in domestic petrol prices, international crude oil prices remained relatively high at the time of reporting.

Brent crude stood at $91.90 per barrel, while West Texas Intermediate (WTI) crude traded at $84.60 per barrel.

The development is expected to keep attention focused on the relationship between domestic refining, imported fuel costs and retail prices in Nigeria.