Nigeria TV Info Dangote Refinery Reduces Petrol Price to N1,250 Per Litre Amid Falling Crude Oil Costs

The Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from N1,275 to N1,250 per litre, representing a N25 reduction and about a 2% price drop. The adjustment comes as global crude oil prices continue to decline, lowering production costs for refiners.

Industry sources said the refinery reviewed its pricing in response to changing market conditions in Nigeria’s deregulated downstream petroleum sector. Officials indicated that petrol prices would continue to be adjusted in line with international crude oil market trends and prevailing economic realities.

The latest reduction is expected to influence fuel pricing across depots and marketing channels nationwide. Analysts believe the move could trigger further competition among fuel marketers and potentially ease transportation and operational costs for businesses if the savings are passed on to consumers. However, many filling stations across the country are yet to reflect the new ex-depot price, with pump prices still remaining above N1,350 per litre in several locations.

The refinery also reportedly reduced the ex-depot price of diesel from N1,800 to N1,700 per litre, further signaling efforts to align product prices with the declining cost of crude oil in the international market.

The development highlights the growing influence of the Dangote Refinery on Nigeria’s energy market. Since commencing large-scale operations, the facility has become a major supplier of refined petroleum products, helping shape domestic fuel supply dynamics and pricing trends across the country.