The Dangote Petroleum Refinery has announced a reduction in its gantry price for aviation turbine kerosene (ATK), commonly known as jet fuel, to N1,450 per litre. This adjustment became effective on Tuesday, June 17, 2026.

This move comes less than two weeks after the refinery lowered the ex-depot price of premium motor spirit (PMS), or petrol, by N75 per litre. The petrol price adjustment, which took effect on June 16, 2026, was attributed to developments in the international energy market.

Industry Calls for Price Reflection

Following the decline in global crude oil prices, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged refiners, depot owners, and fuel importers to adjust their ex-depot and retail prices accordingly.

PETROAN's National PRO, Dr Joseph Obele, stated that the current market realities, including a downward trend in crude oil prices, should be reflected in petroleum product pricing to offer economic relief to consumers and businesses.

The association noted that Brent crude has fallen to approximately $77-$78 per barrel, influenced by a ceasefire agreement between the United States and Iran and expectations of normalized oil exports through the Strait of Hormuz.

PETROAN President, Billy Gillis-Harry, expressed concern that the landing cost of imported petroleum products sometimes appears lower than prices offered by domestic refiners. He emphasized the need for increased competition in the downstream sector to encourage price reductions and ensure supply stability.

The association also called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to continue issuing import licenses to qualified marketers. Furthermore, PETROAN urged the Group Chief Executive Officer of NNPC Limited, Engr. Bayo Ojulari, to facilitate discussions with Chinese firms interested in operating the Port Harcourt and Warri Refineries, believing that private-sector-driven management could improve supply and reduce prices.

PETROAN reiterated its commitment to advocating for a transparent, competitive, and consumer-friendly downstream petroleum sector.