The Dangote Petroleum Refinery has reduced its petrol gantry price by N25 per litre, bringing the cost down from N1,275 to N1,250 per litre.
According to the PUNCh newspaper, a senior official of the Dangote Group confirmed the development on Saturday, attributing the adjustment to the recent decline in crude oil prices on the international market.
The official, who spoke anonymously because he was not authorised to comment publicly on the issue, said the refinery decided to review its pricing in response to changing market realities.
“We have reduced the petrol price to N1,250 at our gantry. This has to do with the current reduction in global oil prices, though everything is still volatile and requires caution,” the source said.
The latest reduction comes amid ongoing shifts in depot prices across the downstream petroleum sector.
Market data obtained from petroleumprice.ng showed that Aiteo and NIPCO were selling petrol at N1,272 per litre, while Integrated Energy, Ascon and African Terminal traded around N1,274 per litre, slightly below Dangote Refinery’s previous gantry price of N1,275.
Industry observers believe the new price adjustment by the refinery could trigger fresh changes in petrol pricing among marketers and depot operators sourcing products from the facility.
Petrol prices across Nigeria have witnessed significant increases in recent months, driven largely by fluctuations in crude oil prices and market deregulation. Pump prices, which previously hovered around N830 per litre, have climbed to about N1,300 per litre in several parts of the country.
The sharp rise in energy costs has also affected diesel and aviation fuel prices, intensifying pressure on businesses, transport operators and consumers already grappling with high operating expenses.
