Dangote Refinery Lowers Petrol Price to ₦1,210/Litre

The Dangote Petroleum Refinery has announced a reduction in its petrol gantry price from ₦1,265 to ₦1,210 per litre, marking a 4.35 percent decrease. This price cut was attributed to a drop in the European gasoline benchmark known as EBOB.

Following this announcement, data from Petroleumprice.ng indicated that Lagos depots were trading at an average of about ₦1,300 per litre. By October 30, several depot owners began to lower their prices, with some reducing them by as much as ₦40 per litre.

Managers from MRS and the Nigerian National Petroleum Company Limited (NNPCL) filling stations indicated that pump prices would soon decrease. An NNPCL station manager in Abuja stated that fuel prices were expected to drop within the week following the refinery's price cut.

Abubakar Maigandi, President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that members of the association would adjust their pump prices as soon as they received supplies from the refinery.