Dangote Refinery Cuts Petrol Price by ₦75 per Liter

Dangote Refinery has announced a reduction in the price of petrol, lowering it by ₦75 per liter to ₦1,200, reversing a recent increase that had raised the price to ₦1,275 per liter. This adjustment comes amid rising pressures from global crude oil prices, which have seen a notable decline.

Recent data indicates that Brent crude oil prices have dropped to $95.05 per barrel, representing a 13% decrease, while West Texas Intermediate (WTI) crude is priced at $97.18 per barrel, marking a nearly 14% drop. Analysts attribute this sharp decline in crude prices to various factors, including an announcement by U.S.

President Donald Trump regarding a two-week ceasefire with Iran, which has eased pressures on petroleum product prices globally.