Dangote Petroleum Refinery has fixed the ex-depot price of Premium Motor Spirit (petrol) at $0.779 per liter, unveiling a new pricing template that also raised the benchmark prices for diesel and aviation fuel following its transition to dollar-denominated transactions.
This marks an end to naira payments for the purchase of refined products, which started after the October 1, 2024, commencement of the naira-for-crude deal.
The development also marks a major shift in the refinery’s commercial operations and could reshape pricing dynamics in Nigeria’s deregulated downstream petroleum sector, where Dangote has emerged as the country’s largest supplier of refined petroleum products.
The revised prices, which took effect on Monday, place Automotive Gas Oil (diesel) at $1.087 per liter and Aviation Turbine Kerosene at $0.942 per liter, while coastal deliveries of petrol were fixed at $1,044.62 per metric ton.
The refinery disclosed the new rates in a notice issued to petroleum marketers and customers, stating that all previously issued naira-denominated pro forma invoices and deal recaps for gantry and coastal transactions had become invalid.
The notice, signed by the refinery’s Group Commercial Operations, read, “Following our email on the 9th of July, 2026, regarding the transition from Naira to United States dollars, please note that all issued Naira Coastal and Gantry PFIs/Deal Recaps are now invalid, and no payments should be made against them.
The applicable USD prices for each product, effective today, July 13, 2026, are provided below.”
Under the new pricing schedule, petrol sold through the gantry will cost $0.779 per liter, diesel $1.087 per liter, and aviation fuel $0.942 per liter, while coastal PMS supplies will sell for $1,044.62 per metric ton.
The company, however, clarified that the new pricing arrangement does not affect liquefied petroleum gas. “Also note that this transition to USD does not apply to LPG transactions,” the refinery said.
Findings by our correspondent indicate that the new dollar-denominated pricing reflects the refinery’s latest commercial pricing structure and is intended to align petroleum product sales with the currency used in procuring a significant proportion of its crude oil feedstock.
Sources familiar with the development said the refinery considered it necessary to adopt a uniform pricing framework after a growing imbalance between the currency used to procure crude oil and the currency in which refined products were being sold.
One official noted that the Dangote refinery now receives a significantly larger share of its crude oil supplies from the Nigerian National Petroleum Company Limited under dollar-denominated supply arrangements, while a substantial volume of its refined products has continued to be sold domestically in naira.
The source explained that the mismatch had increased the refinery’s exposure to foreign exchange risks.
Explaining the rationale behind the move, another source added, “The Dangote refinery is receiving fewer naira-denominated crude cargoes from NNPCL compared with dollar-denominated cargoes, while a larger volume of its petroleum products has been sold in naira. The resulting currency mismatch, combined with volatility in international crude oil prices and continued exchange-rate uncertainty, made it necessary to migrate product sales to dollars.”
