Dangote Refinery Lowers Petrol and Diesel Prices

Dangote Refinery has officially reduced its petrol and diesel prices in response to a significant decline in global oil prices, which fell from $115 to $90 per barrel. According to a new price template released by the refinery on Tuesday, the price of petrol has been cut by N100, bringing it down to N1,175 per liter.

Similarly, the price of automotive gas oil (diesel) has decreased by N190, now priced at N1,430 per liter. The refinery emphasized that these prices reflect additional costs associated with maritime distribution.

It is important to note that the announced prices do not include regulatory charges from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). This adjustment marks the third upward price adjustment for the refinery in just seven days, with the ex-depot price for petrol now set at N180.995 per liter, following an increase of 1.8 percent announced the previous Friday.