By Monsurat Abisoye
Dangote Refinery has reduced its nationwide gantry price for Premium Motor Spirit (petrol) to N1,125 per litre from N1,175 per litre, representing a N50 reduction.
The latest price cut was confirmed on Thursday by the spokesperson for the Dangote Group, Anthony Chijiena, who said the refinery had indeed lowered its petrol gantry price by N50 per litre.
The refinery also reduced its coastal petrol supply price from N1,495,215 per metric tonne to N1,428,165 per metric tonne.
The development comes as global crude oil prices declined significantly to between $69 and $73 per barrel, returning to levels recorded before the Middle East crisis.
The latest reduction follows an earlier cut of N75 per litre announced by the refinery on 16 June, which triggered a drop in retail fuel prices across the country. Combined, the refinery has reduced its petrol price by N125 per litre within two weeks as international oil prices eased.
Despite the reductions, retail petrol prices in Abuja and surrounding areas currently range between N1,241 and N1,305 per litre. Many Nigerians are, however, calling for a further decline to between N800 and N900 per litre, the price range recorded before the Iran-United States-Israel conflict escalated on 28 February 2026.
