Dangote Refinery Cuts Petrol Price Again as Crude Oil Drops
Dangote Refinery Cuts Petrol Price Again as Crude Oil Drops
Motorists may soon see further relief at filling stations as the Dangote Refinery has announced another reduction in its petrol loading price.
The refinery lowered its gantry price from N1,175 per litre to N1,125 per litre, marking a fresh cut of N50 per litre.
Confirming the adjustment on Thursday, June 25, the spokesperson for the Dangote Group, Anthony Chiejina, said the new pricing has already taken effect.
The review also affected coastal supplies, with the refinery’s petrol price dropping from N1,495,215 per metric tonne to N1,428,165 per metric tonne.
The latest reduction follows a decline in global crude oil prices, which have fallen to between $69 and $73 per barrel, returning to levels seen before tensions in the Middle East pushed energy prices upward.
This is the second downward adjustment by the refinery in recent weeks. On June 16, Dangote Refinery cut its gantry price by N75 per litre, a move that was followed by lower pump prices across parts of the country.
With the latest revision, the refinery has reduced its petrol price by a combined N125 per litre within two weeks.
Despite the cuts, fuel is still selling for between N1,241 and N1,305 per litre in Abuja and surrounding areas. Many consumers, however, believe pump prices should fall further, with some calling for a return to the N800–N900 per litre range that existed before the recent geopolitical tensions involving Iran, the United States, and Israel.
