Dangote Refinery has lowered its petrol ex-depot price from N880 to N840 per litre.
In response to falling global crude oil prices, Dangote Refinery has lowered its petrol ex-depot price from N880 to N840 per litre. The price adjustment occurred just four days ago and signals a shift in domestic fuel pricing.
Following suit, members of the Independent Petroleum Marketers Association have also reduced their pump prices. In Abuja, petrol now sells between N930 and N940 per litre, down from previous rates of N945 to N975. Meanwhile, in Lagos State, prices have dropped to N890 per litre, a reduction from N925.
The reductions reflect ongoing efforts by stakeholders to align with market realities and ease the financial burden on consumers.
Although the cuts are modest, they come as welcome relief amid persistent economic pressures. Marketers noted that the price changes are a direct result of “the drop in global crude oil prices” and may continue to fluctuate in line with international trends.