Nigeria’s largest private refinery has reduced the ex-gantry price of petrol by ₦75 to ₦1,200 per litre, citing shifts in global oil markets influenced by ongoing Middle East tensions.
The new price, effective immediately, also lowers the coastal supply rate to ₦1,153 per litre, the company said in a statement on Friday.
Dangote Petroleum Refinery & Petrochemicals linked the adjustment directly to international crude price movements. “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 statement read.
The cut reverses recent upward revisions that had taken the ex-gantry price to ₦1,275 earlier this month, when Brent crude hovered above $100 per barrel.
The 650,000-barrel-per-day facility, Africa’s largest single-train refinery, has repeatedly adjusted pump prices in response to international benchmarks since the removal of fuel subsidies in 2023. Retail prices at filling stations are expected to reflect the change in the coming days, though final consumer costs will depend on depot and marketer margins.
