Dangote Refinery Cuts Fuel Price
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Dangote Petroleum Refinery has reduced the gantry price of petrol by N75 per litre, lowering the cost from N1,250 to N1,175.
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The company also adjusted its coastal price for petrol, bringing it down from N1,595,790 to N1,495,215 per metric tonne.
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The refinery said the change was linked to easing tensions in the Middle East, which had previously pushed up global energy prices.
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It added that the new pricing structure will take effect from midnight, with all pending gantry supplies to be charged at the updated rate.
Market data shows the refinery currently offers one of the lowest petrol prices in the country, with some marketers selling around N1,240 per litre.
The latest reduction follows a drop in global crude oil prices after reports of a ceasefire agreement between the United States and Iran and discussions over reopening key shipping routes.
With international oil prices falling, analysts expect further adjustments in domestic fuel costs.
Petrol had earlier risen sharply during months of global tension, pushing Nigerian pump prices above N1,300 per litre before the recent decline began.
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