The Dangote Petroleum Refinery has reduced its petrol gantry price by N25 per litre, lowering the cost from N1,275 to N1,250.
- +Dangote refinery slashes petrol gantry price from N1,275 to N1,250
A senior Dangote Group official, who spoke on condition of anonymity because he was not authorised to comment publicly on the matter, confirmed the development to our correspondent on Saturday.
A senior Dangote Group official, who spoke on condition of anonymity because he was not authorised to comment publicly on the matter, confirmed the development to our correspondent on Saturday.
The official attributed the price adjustment to 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,” he said.
The reduction comes as depot prices continue to respond to changing market conditions.
According to petroleumprice.ng, Aiteo and NIPCO were selling petrol at N1,272 per litre, while Integrated Energy, Ascon and African Terminal were trading around N1,274 per litre, below Dangote Refinery’s previous gantry price of N1,275 per litre.
The latest adjustment is expected to influence pricing across the downstream petroleum sector, particularly among marketers sourcing products from the refinery.
Petrol prices in Nigeria have risen sharply in recent months amid increases in crude oil prices, with pump prices moving from about N830 per litre to around N1,300 per litre in several parts of the country.
Diesel and aviation fuel prices also recorded increases during the period, raising concerns among businesses and transport operators.
