Dangote Refinery Reduces Petrol Price

The Dangote Petroleum Refinery has reduced the ex-depot price of petrol from ₦840 to ₦820 per litre.

Naija News reports that the announcement was made on Tuesday night by the company’s spokesperson, Anthony Chiejina, who confirmed that the new rate takes effect immediately.

The latest reduction comes just days after the refinery slashed the fuel price from ₦880 to ₦840.

This drop was driven by a decline in international oil prices, with Brent crude falling from $68.67 on June 23 to $67.61 by the close of the day

Recall that the Nigerian National Petroleum Company Limited (NNPCL) last week reduced the pump price of Premium Motor Spirit (PMS), popularly known as petrol, at its retail outlets in Abuja.

Checks by Daily Post revealed that several NNPCL filling stations across the Federal Capital Territory, including those at Zone 6, Kubwa Expressway and Wuse Zone 4, adjusted their prices from ₦945 to ₦910 per litre as of Saturday morning.

The reduction marks a ₦35 drop and comes on the heels of similar moves by other major suppliers and marketers in response to falling global crude oil prices.

Naija News reports that the adjustment by the state-owned oil firm follows shortly after the Dangote Petroleum Refinery reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦880 to ₦840 per litre.