Nigerian fuel consumers have received a significant — if partial — relief after the Dangote Petroleum Refinery announced a reduction in its ex-gantry petrol price by ₦100, bringing the cost down from ₦1,175 to ₦1,075 per litre, in what marks the first downward adjustment after three successive price hikes that had pushed fuel costs to their highest levels in Nigerian history.
The Dangote Petroleum Refinery has reduced its ex-gantry petrol price to ₦1,075 per litre, marking the first price cut after three successive hikes that had pushed the cost of the commodity significantly higher in recent weeks. According to the refinery's latest pricing template released on Tuesday, the reduction represents a ₦100 drop from the previous rate of ₦1,175 per litre. [Al Jazeera](https://www.aljazeera.com/news/liveblog/2026/3/10/iran-war-live-trump-says-conflict-will-be-over-soon-40-killed-in-tehran?claude-citation-98474ec5-e080-4f83-9b38-5035c793a030=e9bd5ba8-849f-4c88-963f-7c0f4f513fb2)
Dangote Group's Chief Communications Officer, Anthony Chiejina, confirmed that petrol supplied through coastal distribution will now sell at ₦1,050 per litre. The Dangote refinery said the price of diesel has also been reduced to ₦1,430 per litre, representing a ₦190 drop from the prior price of ₦1,620 per litre. [The Times of Israel](https://www.timesofisrael.com/liveblog_entry/pm-end-of-iranian-regime-depends-on-iranian-peoples-will-to-throw-off-the-yoke-of-tyranny/?claude-citation-98474ec5-e080-4f83-9b38-5035c793a030=5a0c0256-469c-424f-9c52-5b981022027c)
The price reduction was confirmed and reported by Channels Television, Vanguard, BusinessDay, Pulse Nigeria, PM News, This Day, and AllAfrica, all citing the refinery's latest pricing template released on March 10, 2026.
Why Did Dangote Cut The Price — The Iran War Connection
The price cut did not happen in isolation. It is directly connected to dramatic developments in the ongoing Iran-Israel-US war — and specifically to statements made by US President Donald Trump that eased global fears about oil supply disruptions.
Crude oil prices declined after US President Donald Trump said the war involving the United States and Iran "would end soon," easing fears of prolonged disruption to global oil supply. The ongoing conflict involving the United States, Iran and Israel had earlier disrupted oil installations and led to a blockade of the Strait of Hormuz by Iran. [Middle East Eye](https://www.middleeasteye.net/live-blog/live-blog-update/netanyahu-tells-iranian-people-remove-ayatollah-regime?claude-citation-98474ec5-e080-4f83-9b38-5035c793a030=ae67682e-74fe-4281-aa01-2a914e8ee91e)
The Dangote Refinery's reduction in the cost of the essential commodity comes as crude oil prices dropped to $90 a barrel on Tuesday, the first decline since the war in the Middle East began. The war involving the United States, Iran, and Israel raised global oil prices, leading to a hike in petrol prices in Nigeria. [The Times of Israel](https://www.timesofisrael.com/liveblog_entry/pm-end-of-iranian-regime-depends-on-iranian-peoples-will-to-throw-off-the-yoke-of-tyranny/?claude-citation-98474ec5-e080-4f83-9b38-5035c793a030=664decb8-5849-4561-9579-553aab82580b)
The development reduced oil supply and pushed prices up to $110 per barrel, the highest level since July 2022. Market data shows that Brent crude fell by 10.45% to $88 per barrel, while West Texas Intermediate dropped 8.58% to $86.77. [Middle East Eye](https://www.middleeasteye.net/live-blog/live-blog-update/netanyahu-tells-iranian-people-remove-ayatollah-regime?claude-citation-98474ec5-e080-4f83-9b38-5035c793a030=e48ac9e0-2951-4f51-b978-a40845e00a54)
In other words, the Iran war pushed Dangote's petrol price from ₦874 on March 2 all the way to ₦1,175 by March 10 — and now that war fears are easing slightly, the refinery is passing some of that saving on to Nigerian consumers. But the battle is far from over.
The Painful Journey — How Petrol Got So Expensive So Fast
To understand just how dramatic this price rollercoaster has been for Nigerians, it helps to trace the petrol price journey over just the past two weeks.
On March 2, petrol was selling at ₦874 per litre at the Dangote gantry. By March 7 it had risen to ₦995 per litre. Then on Monday March 10 — before Tuesday's cut — the refinery raised the price again to ₦1,175 per litre, an 18.1% increase in just three days. [Middle East Eye](https://www.middleeasteye.net/live-blog/live-blog-update/netanyahu-tells-iranian-people-remove-ayatollah-regime?claude-citation-98474ec5-e080-4f83-9b38-5035c793a030=59f0570d-9b33-4158-ba23-2e3d8508c4e0)
That means that in just eight days — from March 2 to March 10 — petrol rose from ₦874 to ₦1,175 per litre. For ordinary Nigerians who fill their generators, pay transport fares, and buy goods that are moved by trucks running on petrol and diesel, those eight days were financially devastating.
Now, with Tuesday's cut bringing the price back to ₦1,075, there is some relief — but Nigerians are still paying ₦201 more per litre than they were just nine days ago. The net effect of the Iran war on fuel prices in Nigeria has still been enormously painful.
Filling Stations Still Charging Higher — The Retail Disconnect
One of the most frustrating realities for Nigerian consumers is that Dangote's ex-gantry price reduction does not automatically translate into lower prices at the pump. There is a significant gap between what Dangote charges at its depot and what filling stations charge consumers at the retail level.
Despite the reduction, many filling stations in Abuja continued to sell petrol at higher prices introduced earlier. Stations operated by NNPC Limited were selling at ₦1,285 per litre, while outlets such as AA Rano and AYM Shafa maintained prices around ₦1,330 per litre. Transport fares in parts of the city, however, have started to drop slightly. [Middle East Eye](https://www.middleeasteye.net/live-blog/live-blog-update/netanyahu-tells-iranian-people-remove-ayatollah-regime?claude-citation-98474ec5-e080-4f83-9b38-5035c793a030=5014f4a8-5472-45e8-95b3-98ca07d6197c)
The gap exists because filling stations factor in their own logistics costs, transport charges, and the regulatory fees imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority — none of which are included in Dangote's gantry price. This means that even as Dangote cuts prices, Nigerians may not see the full benefit immediately at their local filling station.
The Warning — Prices Could Still Hit ₦1,500
Even as Nigerians celebrate Tuesday's price cut, industry experts are warning that this may not be the end of the price volatility — and that even higher prices could be coming if the Iran war escalates again.
An oil marketers' spokesperson warned that ₦1,500 per litre is not far-fetched if the Middle East situation deteriorates again. "By the time we add the charges, logistics, and others, the price will get higher and higher. So, yes, ₦1,500 per litre is not far-fetched. It should not make us panic. It is better for us to have the product available, be able to do our business, and get some level of energy security than not having it," he said. [The Times of Israel](https://www.timesofisrael.com/liveblog_entry/pm-end-of-iranian-regime-depends-on-iranian-peoples-will-to-throw-off-the-yoke-of-tyranny/?claude-citation-98474ec5-e080-4f83-9b38-5035c793a030=7218295e-7617-4773-90d6-144594875b79)
Oil marketers have advised Nigerians to brace for a continued rise in the price of petrol to about ₦1,500 per litre as the US-Israeli and Iran conflict continues. [tv7israelnews](https://www.tv7israelnews.com/vod/series/563/?episode-id=OUeheHbpukg&claude-citation-98474ec5-e080-4f83-9b38-5035c793a030=3fbbfb21-f39f-4778-b79f-f68d22bc05ca) The warning underlines how precarious Nigeria's fuel pricing situation remains — completely at the mercy of a war being fought thousands of kilometres away.
Dangote CEO — The Refinery Is Not Immune To Global Shocks
Dangote Refinery CEO David Bird had prepared Nigerians for exactly this kind of price volatility in a statement made on March 9 — the day before the price cut was announced.
The refinery's Chief Executive Officer, David Bird, said the Dangote refinery was not immune to global oil shocks as it secures its crude on international benchmarks. His comments had signalled that price movements at the refinery would continue to mirror developments in the global energy market. [Al Jazeera](https://www.aljazeera.com/news/liveblog/2026/3/10/iran-war-live-trump-says-conflict-will-be-over-soon-40-killed-in-tehran?claude-citation-98474ec5-e080-4f83-9b38-5035c793a030=e71126d8-64ed-4ad7-8a37-a983401739f1)
Bird's statement is critical for Nigerians to understand. The Dangote Refinery — despite being located in Lagos and refining Nigerian crude — buys that crude at international market prices. This means that when global oil prices rise because of a war in the Middle East, Dangote's costs rise — and those costs are passed on to Nigerian consumers.
Bird stressed that product availability currently being provided by the Dangote Petroleum Refinery, even though at higher prices, was a better option than scarcity. "The reality is that if you look at the volatility in the price from what we are seeing today, the Dangote Refinery is the salvation for us due to the consistent source of product, which is much more important at this time than anything," he said. [The Times of Israel](https://www.timesofisrael.com/liveblog_entry/pm-end-of-iranian-regime-depends-on-iranian-peoples-will-to-throw-off-the-yoke-of-tyranny/?claude-citation-98474ec5-e080-4f83-9b38-5035c793a030=460ea0ff-b114-4591-9730-48be4256035c)
Wetin This Price Cut Mean for Ordinary Nigerians
For ordinary Nigerians — the keke rider, the bus driver, the generator owner, the market woman wey dey transport goods — this ₦100 price cut na small relief but better than nothing.
If you dey buy 10 litres of petrol every day for your generator, you go save ₦1,000 per day from this cut. For one month, that na ₦30,000 in your pocket wey you for don lose to the war-driven price hike.
But the bigger picture dey clear — Nigeria's fuel prices don become completely tied to what dey happen in the Middle East. When Israel and America dey bomb Iran, petrol price for Lagos go up. When Trump talk say the war go end soon, petrol price for Abuja come down. This na the new reality for Nigerians under a deregulated fuel market.
The lesson? Follow the Iran war closely — because whatever happen there go affect your transport fare, your generator fuel bill, and the price of everything you buy for market. The Iran war na Nigeria's business too. 🇳🇬⛽
Source: This report is based on statements confirmed and reported by Channels Television, Vanguard, BusinessDay, Pulse Nigeria, PM News, This Day, and AllAfrica, citing Dangote Group Chief Communications Officer Anthony Chiejina and the refinery's official pricing template released on March 10, 2026.