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    HomeBusinessDangote refinery sustains fuel price reduction, cuts N40 

    Dangote refinery sustains fuel price reduction, cuts N40 

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    Nigeria’s Dangote Refinery has sustained the momentum of fuel price reduction with a fresh N40 naira slash to N840 from N880 per litre.

    Dangote has engaged in periodic reduction of petrol price from 2024, with NNPCL always taking a second lead.
    The latest slash came amid petroleum product marketers’ plan of an emergency meeting to drop fuel prices from Tuesday.
    “It is true. Dangote Refinery reduced its petrol ex-depot price to N840 from N880 per litre on Monday. We are happy.
    “Our members would implement the new price once they load new products,” he stated.
    This showed that the 650,000-barrel-per-day refinery slashed its petrol ex-depot prices by N40 per litre.
    Maigandi said petroleum marketers will be having an emergency meeting on Tuesday to decide on a new petrol price nationwide.
    “We will be meeting on Tuesday to review our PMS prices following the latest petrol reduction announced by Dangote. Certainly the petrol price will come down from tomorrow,” he told a news platform.

    The downward review of Dangote Refinery’s gantry price comes after the company implemented a price hike on June 20, 2025, following a surge in global oil prices as a result of the war between Israel and Iran in the Middle East.

    As of Monday afternoon, petroleum product marketers and filling station owners in Lagos and Abuja dispensed fuel between N875 and N970 per litre, depending on the outlets.

    MRS filling station, Dangote Refinery’s partner, the Nigerian National Petroleum Company Limited, AA Rano, Shafa, Mobile, Eterna, and AP Ardova sell petrol at N945 per litre as of Monday evening. Others, such as Ranoil and Empire filling stations, dispense petrol between N950 and N970.

    Dangote refinery’s fresh price template comes amid the de-escalation of the conflict between Israel and Iran after the President of the United States of America, Donald Trump, announced a ceasefire.

    Meanwhile, at the time of filing this report it could not be confirmed whether petroleum marketers fulfilled their plan.

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