Nigeria’s largest refinery, the Dangote Petroleum Refinery, has reduced its petrol gantry price by N25 per litre, bringing the cost down from N1,275 to N1,250 per litre.

According to a report by Punch, a senior Dangote Group official confirmed the adjustment on Saturday, attributing the reduction to the recent decline in international crude oil prices.

The official, who spoke anonymously because he was not authorised to comment publicly, said the refinery reviewed its pricing in response to changing global market conditions.

> “We have reduced the petrol price to N1,250 at our gantry. This has to do with the current reduction in global oil prices, though everything is still volatile and requires caution,” the source said.

The latest reduction comes as depot operators continue to adjust prices in line with market developments. Data from petroleumprice.ng showed that Aiteo and NIPCO were selling petrol at N1,272 per litre, while Integrated Energy, Ascon and African Terminal were trading at around N1,274 per litre before the Dangote adjustment.

Industry observers expect the new gantry price to influence product pricing across the downstream petroleum sector, particularly among marketers sourcing fuel directly from the refinery.

Petrol prices have increased significantly in recent months following higher crude oil prices, with pump prices rising from about N830 per litre to nearly N1,300 per litre in many parts of Nigeria. Diesel and aviation fuel prices have also climbed during the same period, increasing operating costs for businesses and transport operators.