Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to N1,200 per litre and its coastal price to N1,153 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.
Industry observers say the reduction could influence fuel pricing across the downstream sector, particularly at depots and retail outlets, with potential implications for pump prices nationwide.
The development is also seen as a strategic effort to enhance competitiveness, ease supply costs, and consolidate market share in Nigeria’s evolving petroleum market.
Market stakeholders are expected to monitor how quickly the price adjustment translates to lower retail prices and broader consumer relief.
