Nigeria is currently ranked among countries with relatively low petrol prices globally. According to GlobalPetrolPrices.com, the average price of petrol, also known as gasoline, around the world as of April 13, 2026, is $USD1.50 per litre. Data published by the oil and gas analytical firm indicates that Nigeria is currently ranked 23rd ($0.90 per litre) …
The daily consumption of Premium Motor Spirit (PMS), also known as petrol, has again dropped in Nigeria even as imports surge by 97 per cent in March. This is according to the latest report from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for March 2026. The NMDPRA Factsheet released on Tuesday shows that …
Dangote Petroleum Refinery has announced a reduction in its gantry price of Premium Motor Spirit (petrol) from ₦1,275 to ₦1,200 per litre, reflecting a ₦75 cut. The refinery also adjusted its coastal price to ₦1,153 per litre. This downward adjustment comes despite heightened geopolitical tensions in the Middle East that have disrupted global crude oil supply, pushing …
Dangote Refinery has cut its ex-depot price of Premium Motor Spirit (PMS), also known as petrol, by ₦100 to ₦1,075 per litre from the earlier price of ₦1,175 per litre. The refinery also stated that the price of PMS for coastal supply will now be set at ₦1,050 per litre, which accounts for a minor …
Dangote Refinery has further increased the price of Premium Motor Spirit (petrol) at its gantry by ₦180 to ₦1,175 per litre, from ₦995. This latest increase marks the third price increase in one week, following the escalating conflict in the Middle East, which has led to the disruption of crude oil supply and the consequent …
Residents of Cross Rivers State apparently spent more on Premium Motor Spirit (PMS), also known as petrol, in January 2026. Data released by the National Bureau of Statistics shows that the state recorded the highest average retail price of petrol in January 2026. The latest NBS Petrol Price Watch for January 2026 indicates that Cross …
Competition in Nigeria’s downstream petroleum sector has intensified once more following a drop in the landing cost of imported Premium Motor Spirit (PMS), commonly known as petrol, below the ex-depot price offered by the Dangote Petroleum Refinery. The Widening Price Gap According to the Major Energies Marketers Association of Nigeria (MEMAN) Competency Centre Energy Bulletin, …
Dangote Refinery has revised its distribution policy, saying marketers are now free to choose between gantry and coastal loading of petroleum products from the refinery. It said the refinery does not impose restrictions on the evacuation modes chosen by marketers. Change in Distribution Policy In a statement released on Thursday night, the refinery, however, warned …
The Dangote Petroleum Refinery has again clarified its operations following allegations that it was importing finished fuel into Nigeria. It dismissed reports claiming that it imports finished petroleum products (petrol, diesel, or aviation fuel), describing them as false and rooted in a misunderstanding of the standard refinery's operations. According to a statement released by the …
Between late 2025 and early 2026, the Nigerian petrol market has begun to gradually feel what seems like the effect of deregulation, with the rising competition among marketers triggered by the entry of Dangote Refinery. The 650,000 barrels per day refinery, which began operations in 2024, has significantly ramped up production, challenging the long-standing import-based …
