Lagos — Dangote Petroleum Refinery has announced a reduction in the ex-depot price of petrol from ₦880 to ₦840 per litre. The new pricing took effect on Monday, June 30, 2025.
The decision was confirmed by Tony Chiejina, a spokesman for the refinery, who explained that the price adjustment comes about a week after the refinery previously increased the ex-depot price to ₦880 per litre.
Industry analysts expect that filling stations and other outlets with special agreements with Dangote Refinery will reduce their pump prices to below ₦900, aligning with the marginal decrease in the ex-depot price of the premium petroleum product.
The ₦40 reduction is attributed to a recent drop in global oil prices, which was influenced by easing tensions in the Middle East, specifically the two-week conflict between Israel and Iran. This development has led to a stabilization in crude oil costs, prompting the refinery to adjust its pricing accordingly.
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