By Abdulqadir Muhammad Alhaji
The Dangote Petroleum Refinery on Tuesday evening, March 10, 2026, announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, from N1,175 to N1,075 per litre.
The refinery disclosed the development in a pricing update issued to petroleum marketers and depot operators at about 6:00 p.m., stating that the adjustment would take immediate effect for fuel lifted at its loading gantry.
According to the company, the N100 reduction followed recent fluctuations in global crude oil prices and changing conditions within the international energy market.
The latest adjustment comes amid growing concerns among motorists and commuters across Nigeria over the frequent changes in petrol prices. In recent weeks, pump prices in several parts of the country rose sharply from about N890 per litre to as high as N1,300 and N1,350 per litre.
Many consumers have also criticized fuel marketers for what they describe as the immediate adjustment of pump prices whenever depot prices change both when prices increase and when they decline often leaving motorists struggling to keep up with the volatility in the downstream petroleum market.
In several cities, including parts of Bauchi State, transport operators have responded to the price fluctuations by adjusting fares, while some vehicles have temporarily disappeared from major roads as drivers attempt to cope with the rising operational costs.
Since the deregulation of Nigeria’s downstream petroleum sector, petrol prices are largely determined by market forces such as global crude oil prices, foreign exchange rates, and supply logistics.
While the latest reduction by the Dangote Petroleum Refinery may offer some relief if reflected at retail outlets, industry observers say the real impact will depend on how quickly marketers pass the lower depot price to consumers.
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