The Dangote Petroleum Refinery has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦25 per litre, bringing its new gantry price to ₦1,325.

The latest adjustment took effect on Monday, September 21, 2026, following a decline in international crude oil prices. The refinery had previously raised its petrol price from ₦1,265 to ₦1,350 per litre on September 12.

The latest reduction therefore represents a partial reversal of the earlier increase, leaving the new price ₦60 above the pre-hike rate.

International crude prices recorded a fresh decline, with Brent crude trading at about $100.40 per barrel, while West Texas Intermediate (WTI) stood at approximately $92.40 per barrel.

The movement in crude prices has been linked to renewed expectations of diplomatic engagement between the United States and Iran, easing some of the pressure that had contributed to the recent rise in global oil prices.

Following the Dangote refinery’s latest adjustment, some coastal petroleum depots also reviewed their prices.

In Warri and Port Harcourt, several monitored depots were reportedly selling petrol at about ₦1,330 per litre, while some depots in Calabar quoted around ₦1,327 per litre.

However, prices in Lagos remained higher, with some depots selling at about ₦1,351 per litre.

The latest adjustment comes amid continuing changes in Nigeria’s downstream petroleum market, where crude oil prices, refinery output, depot prices and competition among fuel suppliers continue to influence the cost of petrol.

The impact of the new refinery price on retail pump prices is expected to vary across locations depending on transportation, distribution costs, depot pricing and individual marketers’ pricing decisions.

Market developments in international crude prices and domestic petroleum supply are expected to remain key factors influencing petrol prices in the coming weeks.