Dangote Refinery transitions to dollar-denominated petrol sales, ending naira payments
via Punch Nigeria3 min read
Dangote Petroleum Refinery has set new ex-depot prices for Premium Motor Spirit petrol at $0.779 per litre, marking a shift to dollar-denominated transactions for refined products. This change, effective Monday, July 13, 2026, also updates prices for Automotive Gas Oil diesel to $1.087 per litre and Aviation Turbine Kerosene to $0.942 per litre. Coastal deliveries of petrol are now fixed at $1,044.62 per metric tonne. The refinery informed petroleum marketers and customers that all previous naira-denominated Proforma Invoices and Deal Recaps are invalid. This move aims to align product sales with the currency used for crude oil procurement, as the refinery increasingly receives dollar-denominated crude supplies from the Nigerian National Petroleum Company Limited. The transition is expected to impact petroleum marketers and influence fuel pricing in Nigeria's deregulated downstream sector, with the eventual retail pump price depending on the naira-to-dollar exchange rate, logistics, and other costs. The new pricing structure does not apply to Liquefied Petroleum Gas transactions.
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