Dangote Petroleum Refinery cut its gantry price by N75/litre at 12:00 AM Monday, June 15, 2026, bringing petrol down to N1,175/litre for marketers.
It’s the first major relief for Nigerians after three months of pain at the pump.
The slash follows a collapse in global oil prices.
Crude fell from $120+/barrel during US-Iran hostilities to $83/barrel after a ceasefire and partial reopening of the Strait of Hormuz.
Dangote said the “de-escalation of tensions in the Middle East” forced the review.
With marketers selling at ~N1,240/litre on Monday, Dangote’s N1,175 makes it the cheapest source in the country today, according to http://Petroleumprice.ng.
The refinery warned it still holds expensive crude bought during the conflict.
But officials hinted prices could fall further — possibly to N900/litre — if global markets keep cooling.
For now, millions of Nigerians get a break.
After months of N1,300+ fuel, N1,175 feels like oxygen.
