Dangote Refinery has pegged the ex-depot price of Premium Motor Spirit (PMS), better known as petrol or fuel, at $0.779 per litre, officially commencing dollar-denominated sales of refined petroleum products and ending the naira pricing regime introduced under the Federal Government’s naira-for-crude policy.
Newsextra24 reports that the new pricing template, which took effect on Monday, also reviewed benchmark prices for Automotive Gas Oil (diesel) and aviation fuel, signalling a major shift in the refinery’s commercial operations.
The development is expected to reshape pricing dynamics in Nigeria’s deregulated downstream petroleum sector, where the 650,000-barrels-per-day refinery has become the country’s largest supplier of refined petroleum products.
New Dollar Prices Unveiled
According to a notice issued to petroleum marketers and customers, petrol supplied through the gantry will now sell at $0.779 per litre.
The refinery fixed the price of diesel at $1.087 per litre, while aviation fuel will sell for $0.942 per litre.
For coastal deliveries, PMS has been priced at $1,044.62 per metric tonne.
The refinery stated that all previously issued naira-denominated Proforma Invoices and Deal Recaps for gantry and coastal transactions had become invalid.
The notice, signed by the Group Commercial Operations department, read, “Following our email of July 9, 2026, regarding the transition from naira to United States dollars (USD), 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.”
However, the company clarified that the new arrangement does not apply to Liquefied Petroleum Gas.
“Also note that this transition to USD does not apply to LPG transactions,” the refinery stated.
Newsextra24 reports that the move effectively ends the refinery’s naira-based sales system introduced under the Federal Government’s domestic crude supply initiative, which commenced on October 1, 2024.
The policy allowed local refiners to purchase crude oil in naira with the objective of strengthening domestic refining capacity, reducing pressure on foreign exchange demand and stabilising fuel prices.
However, industry stakeholders have recently reported implementation challenges, with an increasing proportion of crude oil supplies reverting to dollar-denominated transactions.
