Dangote Petroleum Refinery has reduced its petrol gantry price by N25 to N1,250 per litre, in a move that traders across Nigeria’s downstream market had widely anticipated.
According to sources familiar with the subject, the 650-barrel-per-day refinery cut down ex-depot petrol price from N1,275 per litre.
The new pricing is expected to trigger immediate reactions across private depots and marketing channels, especially after days of cautious trading activity driven by expectations of a downward adjustment.
Market checks by Petroleumprice.ng show that depot prices were already responding to shifting supply dynamics. Aiteo and Nipco were selling at N1,272 per litre, while Integrated, Ascon and African Terminal were trading around N1,274 per litre, trading below Dangote’s previous Gantry price of N1,275 per litre.
The reduction comes against the backdrop of softer global crude oil prices.
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The fall in international oil prices has strengthened market expectations of lower refined product prices, with many marketers choosing to delay purchases throughout the week rather than buy at higher rates.
Industry players believe the latest cut could reshape depot pricing patterns over the coming days and potentially ease pressure on downstream supply costs if sustained.
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