Dangote Slashes Jet Fuel Price by N100, Sparks Hope for Cheaper Flight Tickets in Nigeria
- Dangote Petroleum Refinery has reduced the price of aviation fuel 9jet fuel), with the new rate taking effect on Tuesday
- The price cut comes less than two weeks after the refinery reduced its petrol ex-depot price due to changes in the global energy market
- PETROAN has urged refiners, depot owners and fuel importers to lower fuel prices further in response to declining global crude oil prices
Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
The Dangote Petroleum Refinery has reduced the gantry price of aviation turbine kerosene (ATK), widely known as jet fuel, to N1,450 per litre, down from N1,550 per litre.
A source familiar with the development confirmed on Friday that the new price became effective on Tuesday.
Source: UGC
The adjustment is expected to attract attention from airline operators, as aviation fuel remains one of the largest components of airline operating expenses in Nigeria and globally.
Recent fuel price adjustments
The latest reduction follows another price cut announced by the refinery less than two weeks ago. On 16 June, Dangote Refinery lowered the ex-depot price of premium motor spirit (PMS), commonly known as petrol, by N75 per litre.
In a notice circulated to petroleum marketers, the company attributed the petrol price adjustment to changes in conditions within the international energy market.
Industry observers note that fluctuations in global crude oil prices often influence the pricing of refined petroleum products, including petrol and aviation fuel.
The refinery, which began supplying refined products to the Nigerian market in 2024, has increasingly played a significant role in domestic fuel pricing and supply.
Why jet fuel price cut matters for airlines, passengers
The reduction in aviation fuel prices is expected to ease operational costs for airlines, as jet fuel accounts for a significant share of total flight expenses.
Lower fuel costs can improve profit margins, support route expansion, and reduce financial pressure on carriers struggling with high operating expenses.
While airfares are influenced by multiple factors, including exchange rates, airport charges and aircraft maintenance costs, a sustained decline in aviation fuel prices could create room for more competitive ticket pricing.
Industry stakeholders will be watching closely to see whether airlines pass some of the savings on to passengers.
PETROAN urges industry-wide price reductions
Reacting to the decline in global crude oil prices, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) called on refiners, depot operators and fuel importers to review their pricing structures.
According to the association, lower crude oil prices present an opportunity for stakeholders in the downstream petroleum sector to reduce both ex-depot and retail prices, thereby easing the financial burden on consumers and businesses.
Industry analysts believe that sustained reductions in fuel prices could help lower transportation and logistics costs, while cheaper jet fuel may provide some relief to airlines grappling with high operational expenses.
Dangote supply crashes petrol import
Earlier, Legit.ng reported that the National Bureau of Statistics (NBS) disclosed that Nigeria's import bill for petrol decreased significantly by N87.401 billion in the first quarter of 2026.
The total value for petrol imports fell from N2.271 trillion to N87.401 billion, showing a 96.2% decrease when compared to the similar period in 2025.
Fuel did not feature among the top 19 traded products with the rest of the world, Africa, or West Africa during the review period.
Source: Legit.ng
