Dangote refinery cuts petrol gantry price to N1,250

Dangote Petroleum Refinery has reduced its petrol gantry price by N25 per litre, bringing it down from N1,275 to N1,250.

A senior official of the Dangote Group, who spoke anonymously, confirmed the adjustment on Saturday, attributing the decision to a recent decline in global crude oil prices.

According to the source, the move reflects changing international market conditions, although volatility remains a concern.

“We have reduced the petrol price to N1,250 at our gantry due to the drop in global oil prices, but the situation is still unstable,” the official said.

The price cut comes as depot rates continue to fluctuate. Market data indicates that firms such as Aiteo and NIPCO are selling petrol around N1,272 per litre, while Integrated Energy, Ascon and African Terminal are trading slightly higher at about N1,274.

The reduction is expected to impact downstream pricing, particularly for marketers sourcing products directly from the refinery.

Petrol prices in Nigeria have surged in recent months, rising from roughly N830 per litre to about N1,300 in many areas, driven largely by increases in crude oil prices.

Diesel and aviation fuel costs have also climbed within the same period, putting additional pressure on businesses and transportation across the country.