The Dangote Petroleum Refinery has reduced its petrol gantry price by ₦25 per litre, lowering the cost from ₦1,275 to ₦1,250.
A senior Dangote Group official, who spoke on condition of anonymity because he was not authorised to comment publicly on the matter, confirmed the development on Saturday.
The official attributed the price adjustment to the recent decline in crude oil prices on the international market.
“We have reduced the petrol price to N1,250 at our gantry. This has to do with the current reduction in global oil prices, though everything is still volatile and requires caution,” he said.
The reduction comes as depot prices continue to respond to changing market conditions.
According to petroleumprice.ng, Aiteo and NIPCO were selling petrol at ₦1,272 per litre, while Integrated Energy, Ascon and African Terminal were trading around ₦1,274 per litre, below Dangote Refinery’s previous gantry price of ₦1,275 per litre.
The latest adjustment is expected to influence pricing across the downstream petroleum sector, particularly among marketers sourcing products from the refinery.
Petrol prices in Nigeria have risen sharply in recent months amid increases in crude oil prices, with pump prices moving from about ₦830 per litre to around ₦1,300 per litre in several parts of the country.
Diesel and aviation fuel prices also recorded increases during the period, raising concerns among businesses and transport operators.
The PUNCH