Lagos – Dangote Petroleum Refinery confirmed a welcome price reduction for petrol (Premium Motor Spirit). The new Dangote Refinery petrol price at the gantry is now N835 per litre. This is down from the earlier N865 per litre. This price cut follows the recent drop in global crude oil costs.
Why the Price Change Now?
Global crude oil markets have seen prices fall recently. Costs decreased from over $70 per barrel to around $64 per barrel. Dangote Refinery indicated this 3.5% price drop directly reflects these international market changes. This adjustment follows a previous reduction from N880 to N865 per litre. It was reported that the benefits of that earlier cut did not reach consumers at the fuel pump. This new price aims to align Nigerian fuel costs more closely with global oil price trends.
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What This Means for You
This Dangote Refinery petrol price reduction intends to pass savings from lower global oil costs directly to Nigerian consumers. With its massive 650,000 barrel-per-day capacity, the refinery’s pricing decisions significantly impact the country’s energy costs. Lower fuel prices could mean relief for household budgets and reduced operating costs for businesses. This move may also help support broader economic stability in Nigeria.
Abdullah Korede
