Business News
Again, Dangote refinery slashes petrol price to N1,125/litre
Dangote Refinery has again reduced its gantry price of Premium Motor Spirit (petrol) nationwide, slashing the rate from N1,175 per litre to N1,125 per litre.
The latest reduction was confirmed on Thursday by the spokesman for the Dangote Group, Anthony Chiejina.
The adjustment represents a N50 decrease per litre and is expected to influence fuel prices across the country as marketers source products from the refinery.
“It is true our petrol gantry price was reduced by N50 per litre,” Chijiena told Very Nigerian.
Similarly, the coastal petrol supply price of Dangote Refinery decreased from N1,495,215 per metric tonne to N1,428,165 per metric tonne.
The development comes as crude oil prices dropped significantly to $69 and $73 per barrel, the same rates as pre-Middle East crisis times.
Recall that on June 16, the Dangote Refinery had reduced its gantry petrol price by N75 per litre, triggering a nationwide retail fuel reduction days later. This brought the total price reduction by Dangote Refinery in two weeks since global prices eased to N125 per litre.
Currently retail fuel prices stand at between N1,241 and N1,305 per litre in Abuja and its environs.
However, Nigerians are clamouring for a further drop in retail fuel to around N800 and N900 per litre, the rate before the Iran-United States-Israel war, which escalated on February 28, 2026.
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