Dangote Refinery Reduces Ex‑Depot Petrol Price to ₦1,200 per Litre

Dangote Petroleum Refinery & Petrochemicals has lowered the ex‑gantry price of Premium Motor Spirit (petrol) by ₦75, bringing it back to ₦1,200 per litre. 

This adjustment comes after the refinery had recently signalled a possible increase to around ₦1,350 per litre due to pressures from global oil markets.

In a letter to stakeholders, management clarified that petrol prices are unchanged from the earlier rate of ₦1,275 per litre and that the ₦1,200 per litre price point remains the most stable level amid ongoing price volatility.

The refinery, which has a capacity of about 650,000 barrels per day, continues to monitor international crude benchmarks that influence downstream pricing. On the morning of the announcement, global oil indicators showed Brent crude trading around $100 per barrel and West Texas Intermediate (WTI) near $94 per barrel.

This move is expected to influence downstream marketers and could help moderate fuel costs across Nigeria’s supply chain, as global price fluctuations persist.