Dangote Refinery Cuts Petrol Gantry Price by N25 to N1,250 Per Litre

Dangote Petroleum Refinery has reduced its petrol gantry price by N25 per litre, lowering the cost from N1,275 to N1,250 per litre.

A senior official of the Dangote Group, who spoke anonymously because he was not authorised to comment publicly, confirmed the development on Saturday.

According to the official, the price reduction was influenced by the recent decline in crude oil prices on the international market.

“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 adjustment comes amid easing pressure in the global oil market following renewed diplomatic efforts involving the United States and Iran aimed at stabilising crude supply and reopening critical shipping routes such as the Strait of Hormuz.

Industry observers say the reduction could eventually lead to lower pump prices across parts of Nigeria if marketers reflect the adjustment in retail pricing.

The refinery’s pricing decisions have become a major factor in Nigeria’s downstream petroleum market since the commencement of domestic fuel supply operations.