Dangote Petroleum Refinery has cut its petrol gantry price by N75 per litre — from N1,250 to N1,175 — following easing Middle East tensions and crashing global crude prices.
Nigerians inching closer to fuel relief. Dangote Petroleum Refinery has slashed its petrol gantry price by N75 per litre, bringing it down from N1,250 to N1,175, effective from midnight on June 16, The Punch reports.
The refinery cited de-escalating Middle East tensions — triggered by a US-Iran ceasefire agreement — as the key driver.
Coastal pricing also dropped, from N1,595,790 to N1,495,215 per metric tonne. Dangote is now Nigeria’s cheapest petrol source, with marketers selling around N1,240 on Monday. Crude prices, which had surged past $120 per barrel during three months of US-Iran hostilities, are now retreating.
A refinery official hinted petrol could fall further to N900 per litre — though warned expensive crude still sitting in tanks may slow the slide.
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