The Dangote Refinery has announced a reduction in the ex-depot price of petrol from N850 per litre to N820 per litre.
The company’s Group Chief Branding and Communications Officer, Anthony Chiejina, in a statement on Tuesday night, said the price adjustment takes effect from 12 August.
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“Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, by N30.00, from N850 to N820 per litre, effective from 12th August 2025.
“As part of our unwavering commitment to national development, Dangote Petroleum Refinery assures the public of a consistent and uninterrupted supply of petroleum products.
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“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 Compressed Natural Gas (CNG)-powered trucks for fuel distribution across Nigeria, effective 15 August 2025,” Mr Chiejina said.
The reduction is part of the market’s response to recent fluctuations in global crude oil prices.
On Tuesday, crude oil prices dipped as traders anticipated declining demand at the end of the summer driving season in early September.
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Brent crude futures lost 46 cents, or 0.69 per cent, to $66.17 a barrel by 1:09 p.m. CDT (1809 GMT). U.S. West Texas Intermediate crude futures were down 77 cents, or 1.2 per cent, to $63.19.
In May, Dangote refinery reaffirmed its commitment to maintaining price stability for petrol, despite global crude oil price fluctuations.
READ ALSO: Dangote Refinery debunks shutdown rumour
At the time, Mr Chiejina said the decision reflects the company’s unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability.
On 15 June, the Dangote refinery announced a major initiative to transform Nigeria’s fuel distribution landscape. The company said that, effective 15 August, it will begin distributing petrol and diesel to marketers, petrol dealers, manufacturers, telecoms firms, aviation, and other large users across the country.
With Dangote refinery’s price drop, oil marketers are expected to follow suit by lowering their pump prices, potentially leading to reduced retail fuel costs for consumers.
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