Dangote Refinery Cuts Petrol Price by ₦75 Per Litre as Global Oil Market Eases


 

By Abdulahi Musa 


 Dangote Petroleum Refinery has announced a reduction in its petrol ex-gantry price by ₦75 per litre, lowering the rate from ₦1,250 to ₦1,175, in response to easing global crude oil prices and improved market conditions.


The new pricing structure, which takes effect from 12:00 a.m. on Tuesday, reflects recent developments in the international oil market, including a decline in crude prices following a de-escalation of geopolitical tensions in key producing regions.


In a statement issued to customers, the refinery said the adjustment was part of a broader review of its Premium Motor Spirit (PMS) pricing template, adding that coastal loading rates were also reduced in line with the new pricing regime.


Industry analysts say the move is expected to provide some relief to fuel marketers and consumers, as domestic fuel pricing continues to track global oil market trends.


Dangote Refinery, Africa’s largest, has played a central role in shaping Nigeria’s downstream pricing structure since beginning full-scale operations, with periodic price adjustments reflecting shifts in global supply and demand conditions.

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