The Dangote Petroleum Refinery has announced a fresh reduction in the ex-depot price of petrol, lowering the cost by N50 per litre as global oil prices continue to soften.
The latest adjustment, announced on Thursday, brings the refinery’s ex-depot price down from N1,175 to N1,125 per litre, marking another shift in Nigeria’s downstream petroleum market.
The company attributed the decision to recent developments in the international energy market, particularly the decline in crude oil and refined product prices following easing geopolitical tensions in the Middle East.
Under the new pricing template, marketers loading products from the refinery’s gantry will now pay N1,125 per litre instead of the previous N1,175.
The refinery also reviewed its coastal supply pricing, reducing the cost from N1,495,215 per metric tonne to N1,428,165 per metric tonne.
The development is expected to influence pricing decisions across the fuel distribution chain, with industry stakeholders watching closely to see whether the reduction will translate into lower pump prices at filling stations nationwide.
The price adjustment comes shortly after the refinery dismissed reports suggesting that its petroleum products were being shipped to Lomé, Togo, before finding their way back into the Nigerian market.
Responding to the allegation, the company described the claim as misleading and lacking any commercial justification.
Dangote Refinery stated that although it generally avoids responding to what it considers speculative reports, it decided to address the issue in order to prevent misinformation from gaining traction.
The company maintained that its primary focus remains ensuring steady fuel supply, strengthening energy security, and supporting Africa’s growing demand for refined petroleum products.