Dangote Refinery slashes petrol price to ₦699 per litre
Story by Okafor Vivian
Dangote Petroleum Refinery has announced a significant reduction in the ex-depot price of Premium Motor Spirit (petrol), bringing it down from ₦828 to ₦699 per litre. The move, effective December 11, represents a ₦129 or 15.58% decrease in petrol cost.
Industry analysts say the price cut is expected to influence retail fuel prices across the country, potentially easing transport and consumer costs ahead of the festive season. The reduction also increases competition in the downstream sector, putting pressure on importers and marketers reliant on imported fuel.
This marks the 20th petrol price adjustment by Dangote Refinery this year, reflecting the company’s commitment to offering competitive and affordable fuel to Nigerians, despite global market fluctuations.
READ ALSO: Dangote, honeywell seal partnership to lift refinery capacity to 1.4m bpd by 2028
A source at the refinery confirmed the development, emphasizing that the move aligns with Dangote’s strategy to provide reasonably priced fuel domestically.
With the new ex-depot price now set at ₦699, industry watchers anticipate a gradual pass-through of the reduction to retail stations nationwide, a development likely to be welcomed by commuters and businesses.
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