Dangote Refinery reduces petrol price to N1,200 per litre

Dangote Refinery and has reduced the gantry price of its petrol to ₦1,200 per litre and its coastal price at ₦1,153 per litre.

The new gantry price represented a price decrease of ₦75 from the previous ₦1,275 per litre.

Anthony Chiejina, the Chief Spokesman for the Dangote Group, disclosed this in a statement on Friday.

The statement said the price adjustment represented a downward review in the refinery’s pricing template and it is expected to reshape fuel supply costs across Nigeria’s downstream distribution chain.

“Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to ₦1,200 per litre and its coastal price to ₦1,153 per litre, a move that comes amid ongoing tensions in the Middle East that continue to influence global oil markets.

“The adjustment marks a downward review in the refinery’s pricing structure and is expected to influence fuel supply costs across distribution channels, including depots and retail outlets,” the statement said.

It said the Middle East crisis had introduced renewed uncertainty into global oil markets, affecting shipping routes, insurance premiums, and supply chains”.

“For Nigeria, the presence of large-scale local refining capacity is increasingly seen as a stabilising factor, offering some insulation from external shocks even as global market pressures persist.”